Pakistan stocks ended down by 203 points on Tuesday due to lackluster participation of investors fearing hike in interest rate and rising political noise.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended 39,687 points from previous day’s closing of 39,890 points, showing a decline of 203 points.
READ MORE: Pakistan stocks dip by 111 points on policy rate hike speculations
Analysts at Arif Habib Limited said that the PSX recorded a negative session during the day.
The market opened in the red and continued to trade in the same territory due to the expectation of a rate hike at today’s Monetary Policy Committee meeting, losing 407.79 points intraday.
Due to the Supreme Court’s decision on the provincial elections in Punjab and Khyber Pakhtunkhwa, investor participation has remained low.
READ MORE: Weekly Review: investors to eye monetary policy decision
However, in the final trading hour following the announcement of the decision, investors gained confidence and chose to add value to their portfolios. The mainboard saw reasonable volume, while 3rd stocks dominated the volume board.
READ MORE: Pakistan stocks gain 153 points in mixed trading
Sectors contributing to the performance include E&P’s (-72.0 points), Commercial Banks (-31.8 points), Inv. Banks / Inv. Cos. / Securities Cos. (-19.4 points), Power Generation & Distribution (-21.1 points), and Fertilizer (-12.2 points).
READ MORE: Pakistan stocks shed 32 points in sluggish trading
Volumes increased from 74.4 million shares to 83.3 million shares (+11.9 per cent DoD). The average traded value also increased by +24.0 per cent to USD 7.6 million as against USD 6.1 million.
Stocks that contributed significantly to the volumes are TELE, PPL, HASCOL, WTL, and BOP.
