KARACHI: The Pakistan Stock Exchange (PSX) snapped the two-day winning streak on Monday amid uncertainty regarding the resumption of the International Monetary Fund’s (IMF) programme, with the benchmark KSE-100 Index shedding 180.76 points (-0.38 percent) to close at 47,115.04 points.
The KSE-100 index endured a range-bound session, which ended on a bearish note. Selling pressure was noted in the technology, banking and oil sectors. Other reasons for the bearish trend included massive depreciation of Pakistan rupee against the US dollar.
The KSE-100 Index moved in a range of 421.72 points, showing an intraday high of 47,442.57 points and a low of 47,020.85 points. At close, the benchmark KSE-100 index recorded a decrease of 180.76 points, or 0.38%, to settle at 47,115.04 points.
Sectors contributing to the performance include technology (-45 points), exploration and production (-28 points), banks (-26 points), pharmaceutical (-20 points) and engineering (-19 points).
During the session, shares of 368 listed companies were traded. At the end of the session, 125 stocks closed in the green, 228 in the red, and 15 remained unchanged.
Overall trading volumes surged to 364.9 million shares compared with Friday’s tally of 469.9 million. The value of shares traded during the day was Rs12.8 billion.
Hum Network Limited was the volume leader with 39.6 million shares, gaining Rs0.23 to close at Rs39.6. It was followed by Telecard Limited with 30.1 million shares, gaining Rs0.39 to close at Rs19.02, and First National Equities with 26 million shares, losing Rs0.31 to close at Rs10.04.
