Pakistani stocks close red as selling pressure persists

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The Pakistan Stock Exchange ended Monday’s trading session on a negative note, with the benchmark KSE-100 index losing 447 points, or 0.9 per cent, by the close of trading to reach 48,929.

The benchmark index had started the week on a dull note, posting a mere 2-point gain by the halfway mark earlier in the day. Factors dragging the bourse down were stringent compliance measures by the SECP in the wake of the recent scandal and the commencement of the future roll over week, which started today.

112 million shares had changed hands by the end of the session, with a total worth of nearly Rs8.95 billion.

Stocks of 405 companies were traded, of which 117 gained in value, 275 declined and 13 remained unchanged.

Volumes were led by:

  1. Power Cement Ltd: 26.3 m shares traded (-5.55pc);
  2. Suit South Gas: 21.4m shares traded (+4.38pc);
  3. K-Electric Ltd: 17.9m shares traded (-2.19pc);
  4. Dost Steels Ltd: 15.5m shares traded (-2.55pc); and,
  5. Ghani Automobile: 13.8m shares traded (-6.30pc).