Pakistan Stock Exchange witnesses bearish trend, loses 501 points
Segregation of client assets is critical as brokers have been penalised for using client money illegally. PHOTO: AFP
The 100-index of the Pakistan Stock Exchange (PSX) saw a bearish trend on Monday, losing 501.46 points, or 0.68%, to close at 73,252.56 points, down from 73,754.02 points the previous day.
A total of 350.7 million shares valued at Rs10.18 billion were traded during the day, compared to 559.6 million shares valued at Rs20.21 billion the previous day.
Out of 434 companies that traded their shares, 133 recorded gains, 241 sustained losses, and 60 remained unchanged.
The top three trading companies were Pervez Ahmed Co with 57.4 million shares at Rs1.63 per share, Amtex Limited with 33.7 million shares at Rs4.56 per share, and WorldCall Telecom with 31.3 million shares at Rs1.34 per share.
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Hoechst Pakistan Limited saw the maximum increase in share price, rising by Rs49.02 to close at Rs1,449.02. The runner-up was Pakistan Industries Limited, with a Rs24.04 rise to Rs973.75 per share.
Unilever Pakistan Foods Limited experienced the largest decrease, dropping Rs99.50 to close at Rs18,100.50 per share, followed by Sapphire Fibres Limited, which declined by Rs90.86 to close at Rs1,408.55.