PSX falls in unison with global equities.

KARACHI -- Stocks had a bearish close on Friday as investors reacted to the delayed talks between the International Monetary Fund and Pakistan for the next review of the loan programme along with dismal data on textile exports and a falling rupee.

Analyst Ahsan Mehanti said news reports suggesting the Ministry of Finance disapproving the Petroleum Division's circular debt management plan coupled with a slump in global stocks and crude oil prices also played the role of a catalyst in the bearish close.

Arif Habib Ltd held the ongoing political chaos responsible for the investors' low participation in the stock market.

As a result, the KSE-100 index settled at 42,730.24 points, down 89.48 points or 0.21 per cent from the preceding session.

The trading volume increased 4.4pc to 189.3 million shares while the traded value went down 18pc to $22.7m on a day-on-day basis.

Stocks contributing significantly to the traded volume included Unity Foods Ltd (58.8m shares), WorldCall Telecom Ltd (14.8m shares), Hascol Petroleum Ltd (9.8m shares), Ghani Chemical Ltd (9.6m shares) and Fauji Cement Ltd (6m shares).

Sectors that contributed negatively to the index...

To continue reading

Request your trial

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT