Pakistan Stock Exchange begins week on negative note
12
The Pakistan Stock Exchange (PSX) closed deep in the red on Monday, with the benchmark KSE-100 Shares Index shedding 600 points, down 1.6 per cent.
The bearish trend dominated the market throughout the session as the benchmark index closed at 36,922 before hitting a day low at 36,738 points near the close of the day.
The market's opening at 37,552 points remained the day's high. In all, 107 million shares worth Rs4 billion changed hands during the session.
Of the 351 scrips traded, 50 advanced, 286 declined and 15 remained unchanged.
The K-Electric remained the most traded company, with 11 million shares, followed by Fauji Cement and Unity Foods (R) with 9.5mn and eight million shares respectively.
Read more
On DawnNews
Comments (12) Closed
Apr 08, 2019 06:02pm
It will further go down.
Recommend
0
Apr 08, 2019 06:03pm
Money is leaving Pakistan at an alarming rate
Recommend
0
Apr 08, 2019 06:08pm
Fauji cement, name reminds who is the owner
Recommend
0
Apr 08, 2019 06:17pm
Why its going down no comments ... what a write up...
Recommend
0
Apr 08, 2019 06:18pm
That reflects state of economy, empty slogans without a plan do not work.
Recommend
0
Apr 08, 2019 06:48pm
Asad Umar and PTI is stating that everything is fine and economy is booming. So i think it is another conspiracy against the most capable government of this century and may be of the entire human history.
Recommend
0
Apr 08, 2019 07:20pm
The dollar rupee rate was 148 a day back now it is 143,How did this miracle happen?
Recommend
0
Apr 08, 2019 09:08pm
@Mohsin Malik,
I realy love confidence of every citizen of pak.
There is saying in English " MUCH ADO ABOUT NOTHING" this aptly applies to almost all...
Recommend
0
Apr 08, 2019 09:09pm
Why two employees are sharing a single PC? Is the situation so bad?
Recommend
0
Apr 08, 2019 09:43pm
@faisal, why?
Recommend
0
Apr 09, 2019 02:39am
@Ahmed, Because we have most corrupt government right now, whom are here just for power, for that they are providing more government jobs to their workers allover Pakistan which is constantly increasing our budget deficit even after cutting all subsidies, also the development projects, but on daily basis we have news of doctors, teachers, clerks shouting for increasing their pay by 100% and giving new jobs, government easily accept their demands and waste our tax money on them, but ultimately someone have to pay the cost and that taxes which is harshly imposed on business will not give them return, so does the value of stock will goes down because those businesses cant give good dividend on their share.
In short more taxes + hight interest rate = less profit = less divided = less investment in stock = more fall in stock market, simple as that.
Recommend
0
Apr 09, 2019 01:46pm
@Sanjeev, you’re talking about two different rates. The official rates of the bank and inter bank rates and the other rate is the open market rate where people buy or sell their dollars. Although at the official rate dollars aren’t really available and is basically used for interbank transactions.
Recommend
0
