Pakistan Stock Exchange loses momentum, 100-index sheds 820 points
- By Web Desk -
- Jan 06, 2020
KARACHI: After continued bullish trend in the Pakistan Stock Exchange (PSX), the bears took over the market on Monday as the KSE 100-Index plunged 820 points during the start of the first day of the business week, ARY News reported.
The bench mark 100-index lost the level of 42,000 and currently trading at 41,502 points.
On Thursday, Pakistan Stock Exchange’s KSE 100-index had crossed 42,480 points with a positive change of 1,080.76 points.
A total of 412,354,330 shares were traded compared to the trade 330,740,610 shares during Wednesday, whereas the value of shares traded during the day stood at Rs 17.057 billion.
Total 380 companies’ transacted shares in the Stock Market today, out of which 297 had recorded gain and 72 sustained losses whereas the share price of 11 companies remained unchanged.
Pakistan’s strong economic indicators were endorsed after Bloomberg, the international economic journal in its report on November 20, termed Pakistan stocks ‘world-beating’.
According to Bloomberg’s report, foreign investors have bought $64 million of the nation’s stocks this year, set for the first annual inflow since 2014.