The KSE-100 fell below the 78,000-point mark on Monday as a positive start to the trading session made way for selling pressure that even dragged the index close to the 77,500 level.
At close, the benchmark index settled at 77,830.34, lower by 214.96 points or 0.28%, as some late-session buying erased some losses.
The KSE-100 had closed marginally negative in the previous session as well on Friday.
Investors have looked to trim positions and consolidate gains over the last few months as they hunt for fresh triggers with an expected meeting of the International Monetary Fund (IMF) next on the radar. However, a date for the meeting, which will take up Pakistan’s $7-billion Extended Fund Facility (EFF), has not been announced yet.
On Monday, across-the-board pressure was seen with cement, autos, oil & gas marketing companies, tech stocks feeling the heat.
Meanwhile, in a stock notice, Pakistan Oilfields Limited (POL) announced further testing results from the newly discovered Razgir-1 exploratory well in the Lockhart formation, located in the Kohat district of Khyber Pakhtunkhwa.
The Pakistani rupee also registered some gain, closing at 278.44 against the US dollar.
Volume on the all-share index decreased massively to 471.75 million from 600.72 million on Friday.
The value of shares also decreased to Rs16.9 billion from Rs21.07 billion in the previous session.
Kohinoor Spinning was again the volume leader with 134.86 million shares, followed by Yousuf Weaving with 43.55 million shares, and Flying Cement with 15.14 million shares changing hands.
Shares of 441 companies were traded on Monday, of which 115 registered an increase, 275 recorded a fall, while 51 remained unchanged.
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