PSX fails to sustain early gains as benchmark KSE-100 Index loses over 780 pts

The Pakistan Stock Exchange (PSX) failed to sustain early morning gains, as the country’s stock market closed the first session of the week in Red on Monday.

After trading in green in the early going gaining 595.04 pts the benchmark KSE 100 index recorded an intraday high of 46,432.39, indices drove in red direction with the benchmark KSE 100 index falling below 45,000 to day’s low of 44,849.07 losing 988.28 pts.

The trading ended with a loss of 786.30 pts at 45,051.05.

Meanwhile, the total market volumes increased from 317.23 mn shares on Friday to 459.80 mn shares. Shares worth Rs 24.72 bn were traded on Monday.

Azgard Nine Limited (ANL +2.59%), Unity Foods Limited (UNITY +2.96%) and TRG Pakistan Limited (TRG -0.02%) led the volume chart with 48.20 mn shares, 45.36 mn shares and 35.36 mn shares traded, respectively.

Meanwhile, sectors that lead to the depletion of gains of the KSE-100 index included Cement sector (204.47 pts), Banking sector (103.46 pts) and Power Generation and Distribution sector (66.59 pts).

Whereas, company-wise, Lucky Cement Limited (LUCK 84.48 pts), Hub Power Company Limited (HUBC 48.22 pts) and Habib Bank Limited (HBL 38.89 pts) were top negative contributors.