KARACHI: The bearish trend further deepened till midday as the Pakistan Stock Exchange benchmark 100-index shed another 159.52 points to drop to 39305.13 points level on Monday.
Earlier, the bearish trend opened the new trading week at the stock market with 96.63 points loss as the benchmark 100-index reached 39368.02 points level in early trading.
Last week, the average volumes and value traded increasing by 60 percent WoW and 25 percent WoW, respectively. Foreigners again turned out to be net sellers ($3.4 million of net selling recorded) but strong participation by the local market more than absorbed rampant selling. The average daily volume increased 60 percent YoY to 371.7 million shares while the average daily value rose 25 percent to Rs12.7 billion/$121 million during the week. Foreigners were the net sellers of $3.3 million worth of shares during the week. Stocks in the food & personal care products sectors witnessed net selling of $14.8 million, while net buying of $5.8 million was seen in banking stocks.
