KARACHI: The bearish note further intensified at the Pakistan Stock Exchange (PSX) till midday as the benchmark 100-index 176 points to reach 42611 points level on Monday.
Earlier, the stocks started new week on negative note after shedding 90 points to drop to 42697 points level in early trading.
On Friday, the stocks ended week on positive note with the benchmark KSE-100 index gaining 104 points or (0.24 percent) and to close at 42,787 points.
The market remained volatile, making an intraday high/low of 331 and 145 points to close at 42,787 level, in anticipation of FTSE and S&P rebalancing of PSX stocks from Frontier to Emerging Market, dealers said. Mixed sentiment were witnessed in the banking sector where HBL (up 3.73pc) and AKBL (gain 0.84pc) closed in the green zone, while on the flipside MCB (down 2.66pc), NBP (dip 0.40pc) and BAFL (slip 1.66pc) closed in the red trajectory.
Volumes shrank in today’s session as 200 million shares were traded in the overall market, compared to 217 million shares in the last trading session. While traded value rose to Rs13 billion/$124 million. Scrips of total 383 active companies participated in the session of which 133 closed in green, 231 in red while 19 remained unchanged. Volume was led by Dost Steels with 16.3 million shares traded and by TRG Pak with 10.3 million shares traded.
