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KARACHI: The Pakistan Stock Exchange (PSX) returned back to its bearish trend on Monday after showing some resistance last week, with the benchmark KSE-100 Index shedding 192.08 points (-0.43 percent) to close at 44,629.45 points.
The market reacted to the news regarding the delay in the resumption of the $6 billion International Monetary Fund (IMF) programme. Moreover, continuous depreciation in the rupee against the US dollar, a massive hike in petroleum prices, and dismal economic data added fuel to the negative momentum.
The index opened negative before recovering, registering an intra-day low of 44,442.28 points and a high of 44,990.11 points. However, at close on Monday, the KSE-100 Index finished with a loss of 192.08 points or 0.43% to settle at 44,629.45.
During the session, shares of 330 listed companies were traded. At the end of the session, 110 stocks closed in the green, 209 in the red, and 11 remained unchanged.
Sectors driving the benchmark KSE-100 index lower included technology and communication (150.34 points), cement (48.34 points), and engineering (27.91 points).
Volume on the all-share index decreased from 334.3 million on Friday to 248.3 million on Monday. The value of the shares trade also declined, amounting to Rs8.82 billion from Rs11.79 billion on Friday.
Hum Network was the volume leader with 25.10 million shares, followed by WorldCall Telecom with 20.84 million shares, and Hascol Petrol with 13.83 million shares.
