KARACHI: The Pakistan Stock Exchange remained bearish till midday after shedding 100 points to reach 42309 points level on Monday.
Earlier, the stocks started new week on negative note as the benchmark 100-index shed 114 points to reach 42295 points level in early trading.
Last week, the benchmark KSE-100 index declined by 0.8 percent WoW to close at 42,409 points level. Activity continues to remain dismal, with average trading volumes of 146mn shares/day (-14 percent WoW) and average traded value of $59m/day (31 percent WoW) during the week. Key buyers were mutual funds with net buying of $6.2m, while foreigners were also net buyers of $0.5m during the week.
Participation thinned as trading took a backseat to politics; average volumes were down 14 percent while value plunged 31 percent to $59m. During outgoing week, banks sold $10.3m, while funds bought $6.2m worth of equities. Foreigners bought $0.5m compared to $0.4m last week. Buying cantered in banks ($7.5m), cement ($3.5m) & OMCs ($2.8m), while selling in E&P ($10.4m) & fertilizer ($0.7mn).
