Pakistan stocks end down 74 points

Pakistan stocks end down 74 points

KARACHI: Pakistan stocks ended down by 74 points on Monday in range bound trading during the day.

The benchmark KSE-100 index of Pakistan stock Exchange (PSX) ended at 40,076 points from last Friday’s closing of 40,150 points, showing a decline of 74 points.

READ MORE: Weekly Review: market likely to stay positive

Analysts at Arif Habib Limited said that the market remained range bound today.

The benchmark KSE-100 index opened in the positive zone but investors’ activity remained sideways although PKR snapped its losing streak against US dollar.

READ MORE: Pakistan stocks shed 127 points amid sluggish trading

Volumes remained dry in the main board on the contrary, decent volumes were witnessed in the 3rd tier stocks.

The Index closed at 40,075.96 points, down by 74.4 points (-0.19 per cent DoD). Sectors contributing to the performance include Fertilizer (-55.6 points), Banks (-31.6 points), Insurance (-22.0 points), E&P (-10.5 points) and Power (-7.8 points).

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Volumes decreased from 170.3 million shares to 110.4 million shares (-35.1 per cent DoD). Average traded value also decreased by 41.1 per cent to reach US$ 15.6 million as against US$ 26.4 million.

Stocks that contributed significantly to the volumes are TPLP, TRG, WTL, AGL and TELE.

READ MORE: Pakistan stocks gain 79 points in volatile trading

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