Volatility persisted at the Pakistan Stock Exchange (PSX), as the benchmark KSE-100 ended the first trading session of the week flat, while the volume and value of shares traded improved from the last close.
The benchmark index opened the session in the green, reaching an intra-day high at 40,066.33. But later profit-taking was witnessed which pushed the index toward an intraday low of 39,840.72.
At close, the benchmark index settled at 40,000.37, an increase of 58.32 points or 0.15%.
KSE-100 falls over 500 points owing to IMF programme uncertainty
A report from Topline Securities stated uncertainty pertaining to resumption of the International Monetary Fund (IMF) Extended Fund Facility (EFF) programme played on investors’ minds.
“During trading hours, mostly investors opted to remain sideline as market vibes suggest a further delay in IMF Staff Level Agreement,” said the report.
On the economic front, the rupee was back on the receiving end against the US dollar and depreciated Re0.38 or 0.13% in the inter-bank market on Monday to settle at 283.58.
Sectors pulling the benchmark KSE-100 upwards included technology & communication (47.97 points), fertilizer (32.48 points) and commercial banks (6.02 points).
Volume on the all-share index increased to 64.5 million from 46.7 million on Friday. The value of shares traded improved to Rs2.5 billion from Rs1.3 billion recorded in the previous session.
WorldCall Telecom was the volume leader with 5 million shares followed by Meezan BankXD with 4.8 million shares and Telecard Limited with 4.4 million shares.
Shares of 298 companies were traded on Friday, of which 122 registered an increase, 148 recorded a fall and 28 remained unchanged.