Pakistan Stock Exchange (PSX) fell sharply on Monday as political uncertainty surrounding the federal government’s emergency decision in Khyber Pakhtunkhwa (KP) weighed on investor sentiment.
The KSE-100 Index dropped 1,920 points during the session before closing at 165,124, down 1,964 points or 1.18 percent.
The decline followed President Asif Ali Zardari’s approval on Sunday of the federal cabinet’s recommendation to impose an emergency in KP. The decision added to political uncertainty, prompting investors to reduce their exposure to stocks, said Topline Securities in a brief review.
Selling remained widespread as market participants stayed cautious amid concerns over the developing political situation and a lack of positive triggers.
United Bank Limited (UBL), Oil and Gas Development Company (OGDC), Habib Bank Limited (HBL), Meezan Bank (MEBL), and Lucky Cement (LUCK) were among the biggest losers. Together, these stocks pulled approximately 645 points off the benchmark index.
Trading activity remained subdued, with around 363 million shares changing hands at a traded value of approximately Rs. 14.5 billion.
Top Volumes
TREET topped the volume chart, with around 27 million shares traded during the session.
| SCRIP | PRICE | HIGH | LOW | CHANGE | VOLUME |
|---|---|---|---|---|---|
| TREET | 24.09 | 25.38 | 23.35 | 0.37 | 27,311,850 |
| LSEFSLR | 1.19 | 2.4 | 1.19 | -1.0 | 20,828,653 |
| WTL | 0.97 | 0.99 | 0.96 | -0.02 | 20,349,561 |
| WAVESAPP | 7.74 | 8.0 | 7.56 | 0.05 | 19,790,254 |
| PRL | 93.45 | 94.6 | 91.5 | 0.38 | 16,632,005 |
| CNERGY | 12.41 | 12.65 | 12.3 | -0.11 | 14,450,611 |
| PIBTL | 13.61 | 13.99 | 13.25 | 0.09 | 12,567,094 |
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