Another meltdown at PSX as KSE-100 loses over 5,400 points
The Pakistan Stock Exchange’s (PSX) benchmark index KSE-100 began another week on a low note, crashing more than 5,000 points during intraday trade on Monday.
The development led to the market being suspended as per the protocol.
The KSE-100 index declined 5,478.63 points, or 3.16 per cent, to stand at 167,691.08 points from the previous close of 173,169.71 points at 1:30pm.
This marks at least the third major meltdown at the PSX in the past two weeks, with KSE-100 losing 5,149.80 points on F...
Bearish pressure drags KSE-100 down over 2,000 points
Pakistan Stock Exchange (PSX) benchmark index, the KSE-100, was down 2,242.94 points by 11:05am on Monday.
The index lost 1.25 per cent from its previous close of 179,603.73 at a trading volume of 64,643,373, and a value of 6,328,293,511.
The top active stocks were led by Trust Securities & Brokerage Limited, rising 20.42pc to Rs2.30 at a volume of 16,560,745, followed by K-Electric Limited falling 1.75pc to Rs8.40 at a volume of 13,638,928, and Beco Steel Limited rising 3.94pc to Rs6.33 at a volume of 11,858,071.
The top advancing stocks were led by Trust Securities & Brokerage Limited, followed by 786 Investments Limited, rising 10.03 to Rs17.88, and Tariq Corporation Limited(Pref), rising 10.01 to Rs16.93.
The top decliners were Ecopack Limited, down 10.01pc to Rs48.57; ZIL Limited, down 10.00pc to Rs454.93; and Chashma Sugar Mills Limited, down 10.00pc to Rs97.51.
Bears remained dominant in the market last week, with Topline Securities noting that the ongoing negative momentum was due to the “ongoing result session, where corporate results fell short of investors’ expectations”.
