KARACHI: Pakistan stocks witnessed a fall of 309 points on Tuesday despite the revival of loan program by the International Monetary Fund (IMF).
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended 42,195 points from previous day’s closing of 42,504 points, showing a decline of 309 points.
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Analysts at Topline Securities said that Pakistan equities celebrated resumption of country’s Extended Fund Facility (EFF) program by IMF Board of Directors as the KSE100 index opened with positive 486 points.
Buying interest witnessed across the board in the market which assisted market to made an intraday high at 43,052 (+548 points; up 1.41 per cent).
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However, profit taking kicked in at the aforesaid level which pushed index towards intraday low at 42,106 (-398 points; down 0.94 per cent) before eventually settled at 42,195 (-309 points; down 0.73 per cent) for the day.
Another highlight of the day was on the macro front where Pakistani Rupee gained Rupee 1.8 (0.82 per cent) against the greenback in the interbank trading and closed at 220.12 versus US Dollar.
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Banks, Fertilizer and Tech sector stocks contributed negatively to the index where HBL, ENGRO, TRG, BAHL & MCB lost 136 points, cumulatively. On the flip side, SYS, DAWH and SRVI have witnessed some buying interest as they added 35 points collectively, today.
Around 238 million shares traded today at the bourse while total value clocked in at Rs7.3 billion. KEL led the volumes chart today with trading of 38 million shares in it, today.
