KARACHI: The Pakistan Stock Exchange (PSX) started the week with a negative mood as an extension of the prevailing bearish mood that started early last week.

However, today the market showed some intraday resistance against the fall at levels below 43,000 points mark of the benchmark KSE-100 Index.

The Karachi Share Index (KSE-100) lost 186.15 points (0.42 per cent) after closing at 44,076.20 points, against the previous closing of 44,262.35 points. The market went as high as 44,325.85 points during intraday trading, while recording as low as 43,632.28 points.

Trading volume moved down to 238.44 million shares today as compared to 293.7m traded in the previous session, according to the PSX website data. The daily traded value inched down to Rs11.3 billion from Rs13.7bn in the previous session, the data said.

After a long time today was some mixed trading day as the market found some support during the mid-day near noon that encouraged investors for selective buying, traders and analysts said.

There was some hope as the fatality rate by COVID-19 in Pakistan reported in double-digit today, which was hovering in three digits throughout last week, they added.

The share price of Unilever Foods increased by Rs1000 to Rs15,000, while Wyeth Pakistan Limited gained Rs71.25 to Rs1,021.25. On the other hand, Rafhan Maize lost Rs369.97 today to close at Rs9,455.03, while Bata Pakistan lost Rs130 to close at Rs1,670.

The author is a senior business and economy journalist . He has worked for leading local and international news organisations.


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