KARACHI: Stocks struggled to find a floor on the first day of the future rollover week on Monday due to weak cues coupled with internal and external headwinds.
Uncertainty about the mini-budget, coupled with concerns regarding rupee-dollar parity, kept the investment climate negative.
According to reports, the government is all set to introduce the amended Finance, and State Bank of Pakistan (SBP) autonomy bills in Parliament for approval tomorrow (Tuesday) ahead of the sixth review of the $6 billion Extended Fund Facility (EFF) by the International Monetary Fund’s (IMF) executive board on January 12.
The bears dominated the proceedings and the benchmark KSE-100 index endured another round of stock selling, dipping over 200 points by the end of the session.
Today, the benchmark KSE-100 index fell 204.95 points, or 0.46%, to close at 43,913.44 points.
Shares of 342 companies were traded during the session. At the close of trading, 116 scrips closed in the green, 196 in the red, and 30 remained unchanged.
Overall trading volumes plunged to 114.66 million shares compared with Friday’s tally of 223.4 million. The value of shares traded during the day was Rs4.41 billion.
