KARACHI: The stock market ended down by 407 points on Monday owing to lower oil prices in international markets after lockdown fears on fast spread of coronavirus.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 43,334 points as against 43,741 points showing a decline of 407 points.
First day of the rollover week met the vengeance of international crude oil prices, which fell by more than 5 percent during the trading hours today (due to lock-down fears in the developed countries).
Scrips that are the subject of rollover largely performed well as against the main board.
E&P sector saw heavy selling pressure, followed by Bank and Cement sectors primarily due to profit booking as was observed on Friday when the Index virtually touched base with 44,000 level. Among scrips, WTL topped the volumes with 36.5 million shares, followed by TRG (35.1 million) and ICIBL (30.9 million).
Sectors contributing to the performance include E&P (-178ps), Banks (-92 points), Cement (-45 points), Fertilizer (-36 points) and Autos (-23 points).
Volumes increased from 482.6 million shares to 516.3 million shares (+7 percent DoD). Average traded value however, declined by 5 percent to reach US$ 139.7 million as against US$ 147.6 million.
Stocks that contributed significantly to the volumes include WTL, TRG, ICIBL, PRL and PAEL, which formed 28 percent of total volumes.
Stocks that contributed positively to the index include PAKT (+14 points), SRVI (+14 points), FFC (+9 points), TRG (+9 points) and KTML (+8 points). Stocks that contributed negatively include OGDC (-69 points), PPL (-60 points), HBL (-33 points), ENGRO (-32 points) and POL (-31 points).
