PSX witnesses bullish trend, gains 129 points

Trading volumes drop to 20-month low at PSX


KARACHI: Trading volume on the Pakistan Stock Exchange (PSX) fell to a 20-month low on Monday, with 115 million shares changing hands during the session.

Overall trading volume fell to 115.11 million shares, compared with 149.29 million shares on Friday. Shares were valued at Rs 364 crore on the day.

The country’s political turmoil has intensified due to a motion of no confidence in the country’s Prime Minister Imran Khan, which has seen the exchange underperform.

Moreover, the depreciation of the Pakistani rupee against the US dollar — which dropped to an all-time low of Rs178.98 — coupled with rising commodity prices in the international market added fuel to the downtrend.

Investor interest was mostly witnessed in the fertiliser sector over increasing urea prices where Engro Fertiliser, Fauji Fertiliser and Fauji Fertiliser Bin Qasim closed on a higher note

At the close, the benchmark KSE-100 index shed 286.44 points, or 0.66%, to settle at 43,366.89 points.

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