KARACHI: Stocks failed to find a floor on Monday due to poor signals and internal and external challenges.
Concerns over the rupee-dollar parity and the delay in the IMF programme decision kept the investment climate unfavourable.
The bears won the day, as the KSE-100 index fell roughly 150 points at the close of the day.
Analysts expected volatility this week, noting a rollover week and the start of the corporate earnings season.
The session ended with the market in a decline.
On Monday, the benchmark KSE-100 index fell 149.15 points, or 0.33 percent, to 45,429.21 points.
According to Topline Securities, the market had a lacklustre session today, with the KSE-100 index concluding the day down 0.33 percent.
“Higher international oil costs, along with inflationary fears, held the market under check,” the report added.
Meezan Bank, Lucky Cement, HBL, Maple Leaf Cement Factory, and AKBL were the main laggards on the KSE-100P index, dragging the index down by 126.06 points, according to the report. THALL, Pakistan Petroleum, Dawood Hercules Corporation, Fauji Fertiliser, and Shifa International Hospitals, on the other side, collectively gained 62.2 points.
Pakistan Refinery, on the other hand, reported a loss after tax of Rs378 million for the three months ended September 30, 2021, with a loss per share of Rs0.60, compared to Rs0.49 for the same quarter in FY21.
With 50.8 million shares traded, Hum Network Limited was the most active, dropping Rs0.04 to settle at Rs6.61. WorldCall Telecom came in second with 17.4 million shares, down Rs0.02 to Rs2.35, while Bank of Punjab Limited came in third with 10.04 million shares, down Rs0.39 to Rs8.30.