KSE-100 index begins week with decline of 412 points

KSE-100 index begins week with decline of 412 points

KARACHI: Benchmark KSE-100 index of Pakistan Stock Exchange (PSX) Monday begun the week with a decline of 412 points.

The index ended at 40,918 points from last Friday’s closing of 41,330 points, showing a decline of 412 points.

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Analysts at Arif Habib Limited said that a negative session was witnessed at PSX during the day.

The KSE-100 began on a positive note, but bears quickly took over as the index lost steam and ended the session in the red, owing to the state’s economic and political uncertainties, plunging the index to an intraday low of 420.71 points.

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Considering that investors chose to be cautious while trading, main board volumes dried up, while side board scrips dominated the volume board.

Sectors contributing to the performance include E&P’s (-127.7 points), Fertilizer (-75.4 points), Cement (-59.8 points), Miscellaneous (-59.0 points), and Commercial Banks (-44.5 points).

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Volumes increased from 172.6 million shares to 195.5 million shares (+13.3 per cent DoD). The average traded value decreased by -38.1 per cent to USD 17.6 million as against USD 28.4 million.

Stocks that contributed significantly to the volumes are UNITY, WTL, FFL, MLCF & PIBTL.

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