Pakistan stocks fall 202 points as IMF program delay haunts investors

Pakistan stocks fall 202 points as IMF program delay haunts investors

Pakistan stocks lost 202 points on Wednesday as delay in IMF loan program resulted in negative investors’ sentiments.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 39,880 points when compared with previous day’s close of 40,082 points.

READ MORE: KSE-100 index gains 82 points amid lack luster sentiments

Analysts at Arif Habib Limited said that the PSX witnessed a mixed trading session during the day.

The benchmark KSE-100 opened in the red territory but traded both directions, as investors still eye at IMF to release the long overdue tranche.

READ MORE: Pakistan stock market begins week with gain of 58.32 points

Participation remained sluggish in main board as cautious approach is adopted by players drying up volumes whereas 3rd tier stocks continued to lead the volume board.

Sectors contributing to the performance include Commercial Banks (-50.2 points), Miscellaneous (-31.8 points), Technology & Communication (-22.6 points), E&P’s (-20.7 points), and Tobacco (-16.5 points).

READ MORE: Weekly Review: PSX investors’ sentiments linked to IMF program

Volumes increased from 87.2 million shares to 108.8 million shares (+24.7 per cent DoD). The average traded value decreased by -3.1 per cent to USD 11.3 million as against USD 11.6 million.

Stocks that contributed significantly to the volumes are TELE, WTL, PABC, PIBTL and NML.

READ MORE: Pakistan stocks plummet by 434 points on negative sentiments

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