KARACHI: Bears maintained their hold over the Pakistan Stock Exchange on Monday, in line with the market performance last week, and the benchmark KSE-100 index received another round of battering, falling more than 100 points
Concerns arising from rising coronavirus cases and depreciating rupee against the US dollar shattered investor confidence. Widespread uncertainty about developments in Afghanistan exacerbated the market’s decline.
All index-heavy sectors lost ground and closed in the red.
Earlier, trading began on a positive note, however, tables turned and the bourse plunged. The market remained on the downtrend for the rest of the session, shedding nearly 160 points during the day.
At close, the benchmark KSE-100 index recorded a decrease of 116.37 points, or 0.24%, to settle at 47,447.08.
