Pakistan Stock Exchange plunges 824 points

KARACHI: Pakistan Stock Exchange (PSX) witnessed bearish trend on Monday as KSE 100 Index dipped to 40,008 points with a negative change of 824 points, ARY News reported.

A total of 104,287,930 shares were traded as compared to the trade of 104,305,370 shares during the previous day, whereas value of shares traded during the day stood at Rs 5.7 billion as compared to Rs 7 billion during last trading day.

Total 332 companies’ transacted shares in the Stock Market on Monday, out of which 44 recorded gain and 275 sustained losses whereas the share price of 13 companies remained unchanged.

Meanwhile, Asian markets idled near 18-month highs on Monday as trading volumes weakened ahead of the Christmas holiday break, with investors taking profit on gains made earlier this month.

In early European trades, the pan-region Euro Stoxx 50 futures and German DAX futures rose 0.1% each while those for London’s FTSE inched up a bit.

E-Mini futures for the S&P 500 climbed to all-time highs having put on 2.7% for the month.

Global stocks were “basking in the afterglow of the U.S. China trade deal and continued encouraging signs of stabilisation in the global growth slowdown,” said David Bassanese, Sydney-based chief economist at Betashares.