KARACHI: The initial trading day of the business week in the Pakistan Stock Market (PSX) observed a bearish trend, with a decline of 770 points registered by the market’s closing. The benchmark 100-index dropped below the 48,000 mark, settling at 47,447 points as the trading day concluded.

Throughout the course of the day, a total of over 211 million shares, valued at Rs7 billion, were exchanged in the market. This was in contrast to the previous day’s trading volume of 254,814,045 shares. Additionally, the total value of shares amounted to Rs7.076 billion, marking a decrease from the Rs10.414 billion recorded on the previous trading day.

As many as 323 companies transacted their shares in the stock market; 50 of them recorded gains and 253 sustained losses, whereas the share price of 20 companies remained unchanged.

The three top-trading companies were WorldCall Telecom with 51,424,053 shares at Rs 1.27 per share; K-Electric Ltd with 8,423,086 shares at Rs.2.23 per share and Oil and Gas Dev with 7,312,226 shares at Rs.96.44 per share.

Mehmood Tex witnessed a maximum increase of Rs 42.95 per share price, closing at Rs 734.95, whereas the runner-up was Sanofi-Aventis with an Rs 20.00 rise in its per share price to Rs 820.00.

Sapphire Fiber witnessed a maximum decrease of Rs 200.00 per share closing at Rs 7,200.00; followed by Rafhan Maize with Rs 137.50 decline to close at Rs 8,450.00.