KSE-100 ends 181 points lower as investors remain concerned

Another lackluster session was observed as the benchmark KSE-100 Index ended with a loss of 181 points amid inflationary concerns as both volumes and value showed a decline on Monday.

The market kicked off positively, with the index witnessing an intra-day high of 47,442, up 0.31%.

However, selling was witnessed in the final hour of trading, and at close, the KSE-100 Index settled with a loss of 180.76 points or 0.38% to finish at 47,115.04.

“Uncertainty over the IMF programme kept investors at bay. Expectations of a gas price hike, coupled with higher international oil prices kept inflationary concerns intact and market gains in check,” said Topline Securities in its post-market comment.

Last week, Advisor to Prime Minister on Finance and Revenue Shaukat Tarin said that that agreement with the IMF, under which $1-billion will be released by the international lender, will be announced in a day or two.

Lackluster activity witnessed at bourse, KSE-100 gains 77 points

On the economic front, from December 2020 to October 2021, total disbursement against Mera Pakistan Mera Ghar Financing stood at Rs22.2 billion.

Meanwhile, volume on the all-share index decreased significantly from 469.87 million on Friday to 364.89 million on Monday. The value of the shares trade also declined, amounting to Rs12.79 billion from Rs15.94 billion on Friday.

Hum Network was the volume leader with 39.57 million shares, followed by Telecard Limited XB with 30.08 million shares, and First National Equities with 26 million shares.

Shares of 368 companies were traded on Monday, of which 125 registered an increase, 228 recorded a fall, while 15 remained unchanged.