Stocks fall 94 points amid policy announcement

Stocks fall 94 points amid policy announcement

KARACHI: Pakistan stocks fell by 94 points on Monday amid announcement of monetary policy. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 44,924 points as against last Friday’s closing of 45,018 points, showing a decrease of 94.37 points.

Analysts at Arif Habib Limited said that range bound session was witnessed today due to the MPC meeting.

READ MORE: Stocks gain on unchanged policy rate expectations

Main board activity remained gloomy on the first day of roll-over week. On the flip-side, activity continued to remain side-ways as market witnessed hefty volumes in the 3rd tier stocks.

READ MORE: Bearish trend continues at Pakistan Stocks

In the last trading hour, value buying was observed due to announcement of corporate results.

Sectors contributing to the performance include Technology (-71.9 points), Cement (-24.6 points), Commercial Banks (-17.5 points), Engineering (-9.1 points) and Inv. Banks (-6.8 points).

READ MORE: Pakistan’s stocks plunge by 674 points on high oil prices

Volumes decreased from 176.1 million shares to 160.2 million shares (-9.0 per cent DoD). Traded value also decreased by 18.8 per cent to reach US$ 32.5 million as against US$ 40.1 million.

Stocks that contributed significantly to the volumes include CNERGY, TRG, HASCOL, WTL and HUMNL.

READ MORE: Stocks fall 105 points on high oil prices, COVID cases

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