PSX Loses Over 1,500 Points as Global Markets Tumble Following Trump’s Tariffs

The 100-Index of the Pakistan Stock Exchange (PSX) witnessed bearish trend on Monday, gaining 1,510.72 points, a positive change of 1.32 percent, closing at 112,745.01 points as compared to 114,255.73 points on the last trading day.  Brokerage house Topline Securities said the KSE-100 Index mirrored the trend in global markets, reacting negatively to the news that US President Donald Trump had ordered sweeping tariffs on goods from Mexico, Canada, and China. This announcement created a ripple effect in international markets, and the local market followed suit, it said.  “Investor sentiment was largely influenced by the growing concerns over escalating trade tensions and the potential impact on global economic stability. Consequently, the KSE-100 followed the international market’s lead, with significant losses across various sectors,” the brokerage house said.  A total of 401,456,556 shares were traded during the day as compared to 543,124,378 shares the previous trading day, whereas the price of shares stood at Rs. 20.351 billion against Rs. 27.973 billion on the last trading day.  As many as 450 companies transacted their shares in the stock market, 137 of them recorded gains and 262 sustained losses, whereas the share price of 51 companies remained unchanged.  The three top trading companies were WorldCall Telecom with 26,261,284 shares at Rs. 1.63 per share, Bank of Punjab with 24,695,262 shares at Rs. 10.23 per share and Ghani Chemical with 22,003,898 shares at Rs. 20.03 per share.  Unilever Pakistan Foods Limited witnessed a maximum increase of Rs. 77.83 per share closing at Rs. 22,383.33 whereas runner-up was Sazgar Engineering Works Limited with Rs. 39.19 rise in its share price to close at Rs. 1,062.95.  Sapphire Fibres Limited witnessed a maximum decrease of Rs.68.45 per share price, closing at Rs. 1,060.55, whereas the runner-up was Rafhan Maize Products Company Limited with Rs. 65.30 decline in its per share price to Rs. 9,483.33.