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PSX drops huge 468pts till midday

PSX drops huge 468pts till midday

KARACHI: The bearish note further deepened at Pakistan Stock Exchange (PSX) as the benchmark 100-index shed huge 468 points to reach 42173.66 points level till midday on Monday.

Earlier, the stocks started new trading week on negative note and shed 216 points to drop to 42426.11 points level in early trading.

On Friday, the stocks ended the trading week on positive note, with the benchmark KSE-100 index gaining 373 points or (0.88 percent) to close at 42,642 points.

The KSE-100 index continued its bearish momentum during the first half of the trading session as the index made an intraday low of 432 points, however recovered during the second half, closing at 42,642 level, brokers said. LUCK (up 3.87pc), SNGP (gain 4.78pc), HBL (up 1.08pc) and DGKC (rose 3.43pc) were the major leaders for the day cumulatively contributing 161 points to the index. On the other hand, TRG (down 4.59pc), PPL (slip 0.74pc), FFC (dip 0.75pc), and KAPCO (slump 1.12pc) were the major laggards, taking the index down by 44 points.

Volumes deteriorated 4 percent day-on-day standing at 177 million shares as compared to 185 million shares in the previous trading session. While traded value declined to Rs9.3 billion/$89 million.