KARACHI: Pakistan stocks has lost 100 points on Tuesday due to prevailing political unrest in the country.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) fell to 41,334 points from previous day’s closing of 41,334 points, showing a decline of 100 points.
Analysts at Arif Habib Limited said that a mixed session was witnessed at the PSX during the day.
The benchmark KSE-100 index opened in the positive zone but traded both ways throughout the trading session due to the prevailing political unrest.
The mainboard saw significantly lower volumes due to the investors’ lackluster participation.
Sectors contributing to the performance include E&P’s (-56.0 points), Commercial Banks (-38.4 points), OMCs (-10.0 points), Food & Personal Care Products (-7.5 points), and Automobile Assembler (-6.2 points).
Volumes decreased from 221.6 million shares to 160.1 million shares (-27.7 per cent DoD). The average traded value also decreased by 26.4 per cent to USD 19.2 million as against USD 26.1 million.
Stocks that contributed significantly to the volumes are TELE, WTL, MLCF, KEL and PIOC.
Market participants remained cautious amid uncertainty surrounding the political situation, resulting in reduced investor confidence and lower institutional activity. Analysts said investors are closely monitoring economic and political developments, which are likely to influence market direction in the coming trading sessions.
