Pakistan Stock Exchange (PSX) on Monday witnessed a volatile session and the benchmark KSE-100 Index dropped 42.35 points with a negative change of 0.04%.
In the onset, the market opened in green and gained over 600 points in the early trading, however later the selling pressure force the stocks to fall in red. At the end of the session, the benchmark KSE-100 Index closed at 114,356.34 points against 114,398.69 points in the previous session on Friday.
The market high level was recorded at 115,048.41 and the low at 114,152.31 points. In total 165,727,736 shares were traded while the total value of the traded shares remained Rs.15.324 billion. Out of 435 companies remained active in trading, 194 recorded a surge, 170 loss and 71 remained unchanged.
It should be noted that the State Bank of Pakistan(SBP) will announce the new key policy rate today, due to this, there was an uncertainty in the stock market and the investors opted to sell the shares.
On the other hand, The Pakistani rupee remained largely stable against the US dollar, appreciating 0.01% during the opening hours of trading on Monday. The rupee was hovering at 279.9,3, a gain of Re0.04 against the greenback.
During the previous week, the rupee maintained its gradual downturn as it lost Re0.30 or 0.11% in the inter-bank market.
