Stock market ends down by 331 points over political noise

KARACHI: The stock market fell by 331 points on Monday owing to political noise after the All Parties Conference (APC).

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 42,174 points from last Friday’s closing of 42,505 points, showing a decline of 331 points.

Analysts at Topline Securities said that the bears took control of today’s session as the KSE 100 index tanked 331 points to close the day at 42,174 level.

Investors remained cautious due to the roll-over week, political noise owing to the APC held over the weekend and the Monetary policy which is expected later in the evening.

Major negative contributors which dragged the index lower were OGDC, ENGRO and UBL cumulatively denting the benchmark KSE100 Index by 70 points.

Trading volume and value witnessed a decline of 16 percent each on DoD basis to 433 million shares and Rs11.3 billion respectively. ASL was the volume leader with 58.7 million shares.

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