Pakistan’s benchmark index hit another low on Monday, dropping 1,264.79 points (-1.12%) to close at 111,986.88. Trading volumes remained subdued on the first session of Ramadan, coupled with a bank holiday, leading to a muted market sentiment.
The benchmark index gradually declined throughout the session, with commercial banks, technology and communication, and oil and gas exploration companies contributing to a 498-point loss. Market analysts attributed the downturn to the absence of positive triggers and lower-than-expected earnings from ENGROH, which accounted for a 424-point decline. Shorter trading hours also added pressure to the market.
Despite the overall decline, market activity recorded 207 million shares traded with a total turnover of Rs11.8 billion, with NBP leading the session at 23 million shares exchanged.
