The Pakistan Stock Exchange (PSX) saw a range-bound session on Monday, and the benchmark KSE-100 Index ended with a decline of 0.38%, while volumes contracted from the previous session.
At close on Monday, the benchmark KSE-100 Index settled with a loss of 157.73 points or 0.38% at 41,540.55.
After a positive opening, market witnessed some profit-taking as investors remained concerned over economic and political conditions.
Index-heavy auto, cement and commercial banks ended in red while oil and gas exploration companies closed in green.
A report from Arif Habib Limited (AHL) said a range-bound session was witnessed during the first session of the week.
“The benchmark KSE-100 Index opened in the green but failed to maintain momentum due to political and economic uncertainty, as investors chose to stay on the sidelines.
"Volume on the mainboard remained low, though decent volumes in third-tier stocks were recorded,” it added.
On the economic front, rupee registered a loss for the sixth consecutive session against the US dollar on Monday and lost Re0.25 or 0.11% in the inter-bank market to close at 224.65.
Moreover, the Asian Development Bank (ADB) on Monday approved a $554 million financing package for Pakistan which includes new as well as reallocated funds, to help recover from the devastation caused by recent floods.
Sectors driving the benchmark KSE-100 downwards included, chemical (33.25 points), banking (32.62 points) and food and personal care products (20.61 points).
Volume on the all-share index decreased to 133.5 million from 191.4 million on Friday. The value of shares traded declined to Rs3.23 billion from Rs3.58 billion recorded in the previous session.
Dewan Farooque Motors Limited was the volume leader with 8.52 million shares, followed by WorldCall Telecom with 7.26 million shares, and Dewan Farooque Spinning Mills Limited with 6.51 million shares
Shares of 323 companies were traded on Monday, of which 92 registered an increase, 204 recorded a fall, and 27 remained unchanged.
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