PSX in free fall as Shehbaz’s arrest brings political situation to boil
KARACHI – The Pakistan Stock Exchange (PSX) on Monday witnessed bearish trend as the KSE 100 index closed at 40,740.95 points against 41,701.23 points on the last working day, with negative change of 960.28 points (2.3%), as political tension in country reached boiling points following arrest of PML-N President Shehbaz Sharif.
Earlier today, the National Accountability Bureau (NAB) arrested Shehbaz Sharif from outside the Lahore High Court (LHC) in a money-laundering case after his bail petition was turned down.
A total 407,194,599 shares were traded during the day as compared to 435,017,984 shares the previous day whereas the price of shares stood at Rs14.284 billion against Rs15.423 billion last day.
As many as 418 companies transacted their shares in the stock market, 57 of them recorded gain and 351 sustained losses whereas the share price of 10 remained unchanged.
The three top traded companies were Hascol petrol with a volume of 48,688,500 shares and price per share of Rs 21.
91, TRG Pak Ltd with a volume of 34,543,500 and price per share of Rs 52.44, and K-Electric Ltd with a volume of 30,213,000 and price per share of Rs4.22.
Sapphire Tex recorded maximum increase in its price of Rs 42.92 per share, closing at Rs 927.99 whereas Mitchells Fruit was runner up with the increase of Rs 24.51 per share price, closing at Rs 351.44.
Rafhan MaizeXD witnessed maximum decrease of Rs100 per share price, closing at Rs 8,300 whereas Colgate PalmXDXB shares decreased by Rs 98.99 per share price closing at Rs 3,050.
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