KARACHI: Pakistan equities have declined by 444 points on Monday owing to rising political noise in the country.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended 42,826 points from last Friday’s closing of 43,270 points, showing a decline of 444 points.
READ MORE: Weekly Review: monetary policy decision likely to dictate market
Analysts at Topline Securities said that Pakistan equities had a bearish day on the back of increasing political noise as news flow regarding possible arrest of top leadership of PTI (an opposition to the ruling alliance) since last night.
In addition to this, Monetary Policy Statement is scheduled to announce in the evening today where the Central Bank of Pakistan is expected to maintain interest rate at 15 per cent as reflected in the Topline survey conducted earlier this month.
READ MORE: Weekly Review: stock market likely to move in positive zone
During the session, the benchmark index made an intraday high at 43,314 (+44 points; up 0.10 per cent) and an intraday low at 42,788 (-483 points; down 1.1 per cent) before eventually settled at 42,827 (-444points; down 1.03 per cent) for the day.
Banks, E&P and Tech sector stocks contributed negatively to the index where PSEL, HBL, OGDC, UBL & SYS lost 154 points, cumulatively.
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On the flip side, POL, DAWH and IDNU have witnessed some buying interest as they added 32 points collectively, during the day.
Over 195 million shares traded today at the bourse while total value clocked in at Rs5.3 billion. PRL led the volumes chart today with trading of 17.5 million shares in it, today.
READ MORE: Pakistan stocks up 671 points on continuous rupee gain
