Monday May 09, 2022

PSX Saw Record Bearish Trend As Benchmark Index Plunges Over 1500 Points

KARACHI: The Pakistan Stock Exchange (PSX) witnessed massive selling pressure on Monday as the benchmark KSE-100 index shed more than 1,500 points during intra-day trading.

The market began its slide soon after opening at 44,840.81 points, with the benchmark KSE-100 index down 1,543 points, or 3.44%, by 1:59pm.

As per the PSX Rulebook, if the index goes 5% above or below its last close and stays there for five minutes, trading in all securities is halted for a specified period.

The benchmark index closed at 43,393.14, down 1,447.67 points, or 3.23%.

Shares of 363 companies were traded during the session. At the close of trading, 38 scrips closed in the green, 311 in the red, and 14 remained unchanged.

Overall trading volumes rose to 305.2 million shares compared with Friday’s tally of 305.20 million. The value of shares traded during the day was Rs9.23 billion.

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