LAHORE - The KSE 100-index of Pakistan Stock Exchange fell on Wednesday as investors resorted to profit-taking. The index lost 109 points ( or –0.26 percent), closing at 41,506 points. Negative sentiments were mainly due to reports that Finance Minister Asad Umar has told Prime Minister Imran Khan that the deal which International Monetary Fund (IMF) has put on the table is not in the interest of Pakistan because it will unduly burden the vulnerable population and further strain the economy.

Sector-wise the worst performers were commercial banks and E&Ps as they chipped away 154 points, cumulatively. On the other hand, fertilizer and cement offered the market some support as they added 84 points, cumulatively.

Investors took a breather as traded volumes fell by 19 percent to 205m, while traded value remained flat at $71m.

Gadoon Textile Mills Ltd (GADT) announced its 2QFY19 results, posting an EPS of Rs1.50 vs EPS of Rs8.69 in the same period last year. This was due to a 49 percent YoY rise in administration expenses, a 55 percent YoY decline in other income and a more 2x YoY increase in finance cost.