KARACHI: The Pakistan Stock Exchange (PSX) saw trade volumes dip to a 20-month low on Monday, with 115 million shares changing hands during the day.
Overall trading volumes fell to 115.11 million shares, down from 149.29 million on Friday. During the day, Rs3.64 billion worth of shares was exchanged.
The bourse’s poor performance was attributed to escalating political instability in the nation after Prime Minister Imran Khan’s defeat in a no-confidence vote.
Furthermore, the devaluation of the Pakistani rupee against the US dollar — which hit an all-time low of Rs178.98 — combined with increasing commodity costs on the international market fueled the downward trend.
The fertilizer industry had the highest investor interest due to rising urea prices, with Engro Fertiliser, Fauji Fertiliser, and Fauji Fertiliser Bin Qasim all closing higher.
The benchmark KSE-100 index fell 286.44 points, or 0.66 percent, to 43,366.89 points at the closing.