On Monday, the Karachi stock market finished down due to economic concerns and weakening global equity markets.
Arif Habib Corp.’s Ahsan Mehanti attributed the negative close to the rise in industrial power tariffs, the unstable currency, and estimates of a decline in textile exports on a monthly basis in January 2022.
At 45,362.85, the KSE-100 shares index of the Pakistan Stock Exchange fell by 0.69% or 313.02 points. At 17,680.69 points, the KSE-30 share index fell by 0.69 percent or 123.24 points.
There were 339 active scrips, 95 of which advanced, 225 of which sank, and 19 of which were unchanged.
The number of shares on the ready market was 137.65 million, compared to the 194.05 million shares traded during the previous trading session.
It has become directionless due to a lack of favorable market catalysts. An expert at Pearl Securities said that the worldwide oil price has remained around $94, despite the ongoing tensions between Russia and Ukraine.
It’s becoming more and more likely that a no-confidence vote will be brought against Prime Minister Hollande in the near future, he said, and the recent Swiss leaks might be a precursor to a Panama-style scandal.
While Sapphire Tex and Blessed Tex both had their shares rise by more than six rupees to finish at Rs1,109.45 each, they were the two businesses with the biggest increases.
More losses were incurred by Sapphire Fiber, which fell by Rs72.12 per share and Allawasaya Tex, which fell 118.09 per share.
A total of 19.08 million shares were exchanged at WorldCall Telecom, the company with the largest volume. Hum Network came in second with a turnover of 11.26 million shares. It was up 15 paisas to Rs7.62/share at the closing. With a turnover of 8.94 million shares, K-Electric stayed in third place. Despite losing 18 paisas, the scrip ended the day at Rs3.30 per share.