A negative session was witnessed at Pakistan Stock Exchange(PSX)to mark the start of the week, as the benchmark KSE-100 Index lost over 400 points while volumes declined on account of an uncertain political situation and the continuous delay in the resumption of theInternational Monetary Fund (IMF) programme, during trading on Monday.
Volumes remained sluggish across the board, with third-tier equities leading the pack. At close, the KSE-100 Index was down 404.12 points or 0.97% to settle at 41,195.07.
Across-the-board selling pressure was witnessed at the bourse, as the index-heavy sectors including automobile, cement, chemical, commercial banks, oil & gas exploration companies and OMCs settled in the red zone.
Sectors driving the benchmark KSE 100 index south included banking (105.36 points), oil and gas exploration (59.89 points) and technology and communication (43.77 points).
Volume on the all-share index declined to 97.7 million from 120.4 million on Friday, while the value of shares traded decreased to Rs2.8 billion from Rs3.3 billion recorded in the previous session.
WorldCall Telecom was the volume leader with 11.45 million shares followed by K-Electric Limited with 9.58 million shares and Air Link Communication with 5.19 million shares.
Shares of 314 companies were traded on Monday, of which 74 registered an increase, 215 recorded a fall and 25 remained unchanged.
