Bears dominate as PSX’s KSE-100 loses over 1,000 points

• The index was being traded at 40,607.72, a plunge of 1023.21 points or a percentage change of negative 2.52pc, at the time of filing this report.

Bearish trend continued for the Pakistan Stock Exchange (PSX) on Monday after the benchmark KSE-100 Index lost over 1,000 points at intra-day.

The index was being traded at 40,607.72, a plunge of 1023.21 points or a percentage change of negative 2.52pc, at the time of filing this report.

The three top traded companies were Bank of Punjab Ltd with a volume of 15,523,500 and price per share of 12.84 (-0.35), Hascol Petroleum Limited with a volume of 7,705,000 and price per share of 25.24 (-0.48), Maple Leaf Cement Factory Limited with a volume of 6,750,500 and price per share of 22.61 (-1.10).

The top three advancers were Popular Islamic Modaraba with a volume of 2,500 and price per share of 5.15 (0.96), Gray Leasing Limited with a volume of 1,000 and price per share of 4.07 (0.47), Sapphire Fibres Limited with a volume of 500 and price per share of 705.96 (39.96).

The top three decliners were First National Bank Modaraba with a volume of 3,000 and price per share of 1.22 (-0.26), Arshad Energy Limited with a volume of 7,000 and price per share of 5.38 (-0.86), Nazir Cotton Mills Limited with a volume of 6,000 and price per share of 3.08 (-0.48).

The bears dominated during the outgoing week ended on January 31, 2020 and Pakistan Stock Exchange ended in deep red zone due to heavy selling in almost all sectors. As the country's political landscape appeared to be in limbo with emergence of friction in the ruling PTI and the epidemic of coronavirus took its toll on global equity markets and international oil prices.