- Overall volumes (66.83 million) fall by a massive 33 pc
KARACHI: The trading floor of the Pakistan Stock Exchange (PSX) kept waiting for investors all day long on Monday. Foreign investors opted for the sell option and ended the last week with a net outflow of $12.86 million.
According to news reports, Finance Minister Asad Umar informed media that Pakistan has formally submitted the details of Chinese Package to International Monetary Fund (IMF). He further stated that the government is taking various measures that will help the country come out of the economic crisis.
The KSE 100 index, after falling by 382.03 points, touched its intraday low of 38,203.63. It then settled with a loss of 276.49 points at 38,309.17. The KMI 30 index fell short by 451.46 points, closing at 64,680.64, while KSE All share index declined by 144.49 points and ended at 28,182.47. Out of total traded scripts, only 133 advanced while 174 declined.
The overall trading volumes were recorded at only 66.83 million with around 70pc, 46.13 million, traded in the KSE 100 index scripts. The volume contracted by a massive 33pc day-on-day (DoD). The Bank of Punjab (BOP +1.65pc) received the highest volume of 10.04 million, followed by K-Electric Limited (KEL +2.65pc) with 6.88 million shares exchanging hands. Next in line was Fauji Foods Limited (FFL +2.49pc) with 3.73 million traded shares.
Losers of the day included the textile weaving sector (-1.99pc), jute sector (-1.70pc), leasing companies’ sectors (-1.61pc), synthetic and tobacco sector (-1.52pc) and synthetic and rayon sector (-1.26pc). On the other hand, vanaspati and allied industries sector (+3.85pc), miscellaneous sector (+2.26pc), food and personal care products (+1.17pc), closed-end mutual fund sector (+0.74pc) and power generation and distribution sector (+0.57pc) were among the gainers.
The oil and gas exploration sector lost 1.14pc from its cumulative market capitalization. Mari Petroleum Company Limited (MARI) declined by 3.74pc, Pak Petroleum Limited (PPL) declined by 1.08pc and Oil and Gas Development Company Limited (OGDC) by -0.44pc. Pakistan Oilfields Limited (POL -0.38pc) also closed in the red.
