Bears dominated the Pakistan Stock Exchange in the first trading session of the week. The KSE100 index went down by 204 points to settle at 45,726.

The index was seen fighting selling pressure and barely staying in the positive during the first half of trading. Sellers overpowered buyers in the second half as the exchange saw red in many scrips.

The index is expected to make a slight correction in the absence of any positive triggers. Oil prices in the international market continues to decline due to a rise in Coronavirus cases in many regions of the world. A drop in oil prices impacts Pakistan’s index heavyweight E&P sector in a negative manner.

Chinese data showed upbeat figures indicating that the economy had bounced back from the Covid-19 impact. However, this only allowed Chinese blue chips to edge up slightly. Investors continue to eye the pandemic closely as vaccine rollouts have begun in much of the world. Economic recovery is expected to be speedy if vaccine rollout proves to be successful.

At the closing bell 156 companies had advanced with 216 closing in the red. 19 scrips remained unchanged.

Market participation for the KSE100 Index decreased to 285M from 222M in the previous session (28% on d/d basis). Major contribution to total market volume came from TRG, FFL and KEL combined for 125M shares out of the total market volume of 544M shares.