Bear Grips Stock Market As Index Closes 292.55 Points Lower

The bear gripped Pakistan Stock Exchange on Monday, the first trading day of the week, as the market closed lower owing to selling pressure on the scrips across the board.

The market moved both ways during the trading and closed 292.55 points down to settle at 41096 points.

The market opened in the green and gained over 70 points shortly. However, the positive sentiments proved short-lived and index plunged into the red zone.

The index moved both ways in the morning session and hit the highest level of the day at 41566 points level. However, bear gripped the market in the second session and its closed in the negative.


ALSO READ

Textile Firm Interloop Plans Pakistan Biggest Private Sector IPO


Some 96,973,130  shares changed hands at the market on Monday. Trading held in the shares of 368 companies out of which share price of 111 companies increased while the share prices of 242 companies decreased.

The share prices of 15 companies remained unchanged.

Colgate Palm was the biggest gainer in term of per share gain followed by Pak Tobacco. The share price of Colgate Palm surged by Rs115.05 to close at 2416.05 while the share price of Pak Tobacco increased by Rs100.75 to close at 2294.94.


ALSO READ

Top Global Sock Manufacturer from Pakistan To Hold IPO


Nestle Pakistan was the biggest loser in term of per share loss followed by Sappire Fiber. The share price of Nestle Pakistan decreased by Rs480 to close at 9120 while the share price of Sapphire Fiber fell by Rs39.87 to close at Rs780.

Foreign investors ended as net sellers in the last week with a net outflow of $9.43 million.

Trading volume declined by 19 per cent from the last trading session and was recorded at 178.02 million. K-Electric Limited (KEL -0.99 per cent) led the volume chart exchanging 17.72 million shares, followed by Lotte Chemical Pakistan Limited (LOTCHEM +2.61 per cent) with 15.91 million shares traded. Siddiqsons Tin Plate Limited (STPL -0.53 per cent) was next in line with 11.97 million shares.