The KSE-100 Index plunged by 1,105.49 points to close at three months' lowest level at 39,143.73 points. Daily trading volumes increased to 144.282 million shares as compared to 85.597 million shares traded last Friday.
Foreign investors remained net sellers of shares worth $3.0 million. The market capitalization declined by Rs 175 billion to Rs 7.355 trillion. Out of total 345 active scrips, 285 closed in negative, only 44 in positive while the value of 16 stocks remained unchanged.
Hascol Petroleum was the volume leader with 14.356 million shares. However, it declined by Rs 1.44 to close at Rs 20.96 followed by Unity Foods that lost Re 1.00 to close at Rs 13.27 with 11.547 million shares.
Nestle Pakistan and Rafhan Maize were the top gainers with Rs 375.00 and Rs 300.00, respectively to close at Rs 7,800.00 and Rs 7,000.00. Unilever Foods and Pak Tobacco were the top losers with Rs 200.00 and Rs 81.01, respectively to close at Rs 7,300.00 and Rs 1,914.28.
BR Automobile Assembler Index decreased by 99.53 points or 1.71 percent to close at 5,718.18 points with total turnover of 1.229 million shares.
BR Cement Index declined by 117.84 points or 3.1 percent to close at 3,687.82 points with 17.145 million shares.
BR Commercial Banks Index plunged by 276.11 points or 2.82 percent to close at 9,506.72 points with 17.372 million shares.
BR Power Generation and Distribution Index shed 179.04 points or 3.22 percent to close at 5,372.86 points with 14.705 million shares.
BR Oil and Gas Index fell by 155.11 points or 3.52 percent to close at 4,250.51 points with 22.353 million shares.
BR Tech. & Comm. Index closed at 948.67 points, down 53.43 points or 5.33 percent with 14.037 million shares.
An analyst at Arif Habib Limited said that the market bled a total of 1169 points during the session and closed 1105 points down. He said concerns from pending IMF Executive Board's decision to developing, worsening situation at border with Iran due to corona virus and decline in international crude oil prices caused panic among investors. Foreign investors have largely been sellers during the past couple of sessions due to possible de-tracking and reversal of rupee appreciation that the currency has realized so far since last quarter.
Barring 48 scrips in green and 17 scrips unchanged, a total of 271 scrips on the bourse saw decline across the board including E&P, Refineries, OMCs, Cement, Steel and Banking sectors being the prominent ones.
Sectors contributing to the performance include Banks (down 311 points), E&P (down 188 points), Fertilizer (down 109 points), Power (down 94 points) and Cement (down 82 points).
Stocks that contributed positively include NESTLE (up 37 points), MUREB (up 5 points), MTL (up 4 points), DCR (up 1 point) and EFUG (up 1 point). Stocks that contributed negatively include PPL (down 86 points), HBL (down 78 points), HUBC (down 67 points), UBL (down 67 points) and OGDC (down 60 points).