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KARACHI: The Pakistan Stock Exchange (PSX) on Monday plunged 537 points or 1.28 percent as uncertainty surrounding the ninth review of Pakistan’s economy by the International Monetary Fund (IMF) persisted on Monday.
Investors stayed on the sidelines owing to weak macroeconomic cues. By the end of the session, the KSE-100 Index closed with a loss of 537.43 points or 1.28% to settle at 41,612.67.
Following a brief open in the positive zone, the KSE-100 index began its descent in the initial minutes. The slide accelerated in the second half of the session, elevating the losses.
Index-heavy automobile, banks, cement, chemical and oil sector stocks recorded losses and majority of scrips from these segments ended in the red.
Sectors driving the benchmark KSE-100 lower included cement (125.26 points), technology and communication (88.84 points) and banking (76.20 points).
Volume on the all-share index fell to 126.3 million from 143.2 million on Friday. The value of shares traded dipped to Rs3.2 billion from Rs5.1 billion recorded in the previous session.
WorldCall Telecom was the volume leader with 9.85 million shares, followed by Fauji Cement with 9.5 million shares and Hascol with 8 million shares
Shares of 329 companies were traded on Monday, of which 61 registered an increase, 250 recorded a fall, and 18 remained unchanged.
