PSX takes a downward ride on Monday

Pakistan Stock Exchange (PSX) showed a slow start to the week. Stock market wasn’t a happy place for customers on Monday. Starting from above 47518.18 points, the market came down to 46743.55. It showed a steep but little recovery before closing on 47125.12 points.

The automobile sector took a major brunt. Several companies lost on share value and closed in red, including Atlas Honda Ltd., Indus Motor Co and Millat Tractors. Dewan Motors, Pak SuzukiXD and a few others, however, managed to remain in the green. The automobile parts and accessories sector couldn’t perform well either.

The cement sector painted a similar picture with more than a dozen companies closing in the red. Cherat Cement was among the very few to gain a few points in the downward stock exchange movement today. Among the food and personal care products, Nestlé PakistanXD remained the only notable company to close with an increase in their share trading price. Likewise, Hub Power Co.XD was the only prominent company in the power generation and distribution sector that made a mark in the upward trajectory.

The only sector to show a more mixed than primarily negative result was the sugar and allied industries, where a few companies managed to remain above the zero curve and made gains in the share value. Overall, the index fell by 451.94 points, or by 0.85 percent.


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