KARACHI: The Pakistan Stock Exchange Monday opened bearish and shed 198 points to drop to 49012.15 points level.
On Friday, the profit-taking halted the upward streak of PSX with share index lost 306.52 points or (0.62%) and to close at 49,210.50 points. Market opened on a positive note as the index gained to make an intraday high of 156 points but came under selling pressure during the second half where investors booked profits. Overall volume declined by 514 million shares compared to 563 million shares changed hands yesterday, while traded value remained flat at Rs23.6 billion.
Banking sector led the decline in the market, as index heavyweights UBL (down 2.64%) and MCB (1.83%) lost value to close in the red zone. Profit-taking continued in the textile sector as the sector extended it loss to close (1.79%) lower.
