KARACHI: Stocks on Pakistan Stock Exchange (PSX) continued taking a battering today (Monday), pushing the benchmark index down around 1,000 points within an hour of the opening bell as rising COVID-19 cases rattled investors sentiment.
According to details, the KSE-100 index had lost 1,008 points, or 2.53 percent, at the time this report was compiled to reach 38,879 points.
Commercial banks were among the top losers, followed by oil and gas exploration companies, cement, and oil and gas marketing companies. However, oil-related stocks were under pressure due to falling crude prices on account of worsening demand amid lockdown.
Close to 123.5 million shares had changed hands, with a total worth of nearly Rs5.3 billion. Stocks of 315 companies were traded, of which 37 gained in value, 268 declined and 10 remained unchanged.
Volumes were led by Hascol, with 21.1 million shares traded. Unity Foods Ltd, Pakistan International Bulk Terminal Ltd (PIBTL), Power Cement Ltd and Pakistan Refinery Limited (PRL) closed out the top five symbols traded.
Coronavirus cases have been on the rise in Pakistan. As many as 27,953 tests were conducted, during the past 24 hours, resulting in the emergence of 1,123 fresh infections.
Nearly 12 people died in the past day due to complications from the virus. The number of active cases stands at 13,242 while 707 are said to be in critical conduction.
