KARACHI: The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended down by 256 points on Thursday owing to profit taking observed during the day.
The index ended at 45,863 points as against previous day’s closing of 46,119 points, showing decrease of 256 points.
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Analysts at Arif Habib Limited said that the index opened on a positive note as the International Monetary Fund (IMF)’s Executive Board approved the loan tranche of $1 billion of its $6 billion Extended Fund Facility (EFF) for Pakistan.
READ MORE: Stocks gain 300 points on upcoming IMF announcement
Physiological level of 46,000 was unable to digest by the investors as profit taking was witnessed across the board, which led the index to close in the red zone. Main board activity remained gloomy.
On the flip-side, activity continued to remain side-ways as market witnessed hefty volumes in the 3rd tier stocks.
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Sectors contributing to the performance include Misc. (-65.8 points), Cement (-51.6 points), Banks (-47.9 points), E&P (-39.6 points) and Power (-18.5 points).
Volumes decreased from 360.8 million shares to 328.0 million shares (-9.1 per cent DoD). Traded value also decreased by 3.9 per cent to reach US$ 59.9 million as against US$ 62.3 million.
Stocks that contributed significantly to the volumes include WTL, TELE, GGL, HUMNL and TREET.
