Stocks fall as traded value hits 140-session low
KARACHI: The first day of the week marked a depressingly dull session at the stock market where traders took time off and the KSE-100 index fell 276.49 points (0.72 per cent) to close at 38,309.17.
The market opened weak and with the investors displaying hardly any interest, the traded volumes sank to 67 million shares – the lowest in 129 sessions (since Jun 1). Traded value also dipped deeper to just Rs2.78 billion, representing the lowest in 140 sessions since May 17.
Brokers tried to cheer the market through positive talks of Chinese aid of $2bn just around the corner followed by attainment of $6bn facility from Saudi Arabia likely in January. The dollar inflows would ease off the pressure on the rupee, the SBP governor Tariq Bajwa was quoted to have said.
But none of that could give fillip to investors’ optimism who still groped for triggers, such as the government’s plan of long-term economic management.