The Pakistan Stock Exchange (PSX) on Monday commenced the week on a negative note, with the benchmark KSE-100 Index plunging 586 points, down 1.37 per cent, to close at 42,347.

The benchmark opened lower, with the market opening level of 42,934 remaining the day's high. The market hit a day's low of 42,270 points near the end of the trading session.

In all, 130.5 million shares worth Rs5.8 billion changed hands, as compared to 238.7mn shares worth Rs10.3bn traded on the last trading session.

Of the 344 scrips traded, 101 advanced, 231 declined and 12 remained unchanged.

According to a TopLine report, investors were "clearly spooked by upcoming street protests" by opposition parties from January 17, and opted to remain on the sidelines.

Despite West Texas Intermediate (WTI) crude oil trading well above $64 per barrel, little support was seen from exploration and production companies apart from the Oil and Gas Development Company, it added.

Among the top 10 index point decliners were HBL (‐2.2pc), UBL (‐2.7pc), FFC (‐2.7pc), POL (‐3.5pc), PPL (‐1.3pc), PSO (‐3.5pc), MCB (‐1.7pc), ISL (‐4.5pc), TRG (‐5pc) & INIL (‐5pc).

The textile sector dominated trading with 21.4m shares traded, while the communication and engineering sectors followed with 12.7m and 11.8m shares traded.

Volumes were led by:

  • Azgard Nine: 19.0m shares traded [+2.34pc];

  • TRG Pak Ltd: 8.5m shares traded [-4.99pc];

  • P.I.A.C.(A): 6.3m shares traded [+22.99pc];

  • Pak Elektron: 5.4m shares traded [-3.53pc];

  • Aisha Steel Mill: 5.0m shares traded [-5.00pc].

Follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

Judiciary’s SOS
Updated 28 Mar, 2024

Judiciary’s SOS

The ball is now in CJP Isa’s court, and he will feel pressure to take action.
Data protection
28 Mar, 2024

Data protection

WHAT do we want? Data protection laws. When do we want them? Immediately. Without delay, if we are to prevent ...
Selling humans
28 Mar, 2024

Selling humans

HUMAN traders feed off economic distress; they peddle promises of a better life to the impoverished who, mired in...
New terror wave
Updated 27 Mar, 2024

New terror wave

The time has come for decisive government action against militancy.
Development costs
27 Mar, 2024

Development costs

A HEFTY escalation of 30pc in the cost of ongoing federal development schemes is one of the many decisions where the...
Aitchison controversy
Updated 27 Mar, 2024

Aitchison controversy

It is hoped that higher authorities realise that politics and nepotism have no place in schools.