KARACHI

Stocks on Monday fell across the board amid thin trade over mixed reaction to the SBP policy rate cut, the KSE-100 Index lost 287.99 points or 0.83pc to close at 33,384.73 points level.

Volatility prevailed in today’s session where initially the index rose by 177 points but soon the confidence shattered to finally closed in red zone.

Early gain faded on speculations over likely hit on rupee stability, observed Analyst Ahsan Mehanti at Arif Habib Corp, adding rising political noise, dismal exports data for Jul-Aug’15 and uncertainty in global stocks and commodities played a catalyst role in the institutional profit-taking post major earnings announcements at KSE despite improving economic outlook.

The market sentiment remained bearish as an antagonistic attitude was witnessed on SBP decision to cut interest rates.

After today’s disappointing performance one thing becomes evident that the SECP’s investigation against a few top market players should not be taken lightly as they restrain themselves from trading, commented analyst Ahmed Saeed Khan.

Treaded volume was decreased to 134m shares, with value Rs5.2b/ $50m.

Of total 353 active companies in the session, 75 settled in advance, 266 in negative while 12 remained unchanged.

Major activities witnessed in low-prices stock- Byco Petroleum, Dewan Cement and Pak Elektron with 16.6m shares, 9.7m shares and 9.1m shares respectively.

Dealers expect the volatility to continue as long as the market does not set an assertive tone.