Stocks lose 180 points on political tensions.
KARACHI -- Lack of certainty on political and economic fronts put a damper on the mood of stock investors on Thursday.
Arif Habib Ltd said the representative index of listed companies opened on the higher side and traded within a narrow range throughout the day. It reached an intraday high of 244.99 points as investors waited for the announcement of a staff-level agreement between the government and the International Monetary Fund (IMF) for the $7 billion loan revival.
But the rising political temperature in Lahore led to dull market participation. Low volumes were recorded across the board as investors booked profit by the end of trading.
As a result, the KSE-100 index settled at 41,694.09 points, down 179.95 points or 0.43 per cent from the preceding session.
The overall trading volume increased 0.6pc to 234.7 million shares. The traded value went down 11.5pc to $26.4m on a day-on-day basis.
Stocks contributing significantly to the traded volume included Telecard Ltd (14.2m shares), Ghani Global Holdings Ltd (11.9m shares), Maple Leaf Cement Factory Ltd (11.8m shares), TPL Properties Ltd (9.5m shares) and AGP Ltd (8.3m shares).
Sectors contributing the most...
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