KARACHI: Pakistan Stock Exchange (PSX) failed to break the bearish spell extended from the previous week as investors remained cautious regarding the security issues in bordering Afghanistan and continuous increase in COVID-19 infection in the last few days.
The Karachi Share Index (KSE-100) ended the day with 116.37 points (0.24 per cent) down at 47,447.08 points against the previous closing of 47,563.45 points. The market went as high as 47,715.28 points during intra-day trading while recorded as low as 47,408.52 points.
Trading volumes declined to 474.99 million shares today as compared to 505.99 million shares during the previous trading day, while the daily traded value also moved down to Rs14.3 billion from Rs15.37 billion in the previous session, the data said.
The market started the day with an attempt at recovery to support some selective buying by some institutions and managed to push the Index in positive territory. However, the selling pressure proved much more decisive that pulled down the market back in negative.
Tehreek-i-Taliban Afghanistan spokesperson Suhail Shaheen while talking to a Pakistani news channel on Sunday when sought his views on Taliban’s future relations with Pakistan, especially in the context of reports that they are not willing to listen to Pakistan, he said: “We want brotherly relations. They are neighbours, a Muslim country, and we have shared values — historical, religious and cultural.” However, Suhail categorically said that they [Pakistan] can help us in the peace process but can’t dictate or impose their views. “And this is against international principles,” he added.
The share price of Pakistan Tobacco increased by Rs45.44 to Rs1,300, while Mehmood Textile gained Rs40.90 to Rs587.90. On the other hand, Nestle Pakistan lost Rs215 today to close at Rs5,875 while Sapphire Textile lost Rs29.01 to close at Rs909.99.