LAHORE  -  The Pakistan Stock Exchange further plummeted by 750 points Monday to close at 36,767 points.

Investor enthusiasm was low as selling pressure prevailed despite the government's announcement of retracing to the International Monetary Fund (IMF) for a bailout package. Moreover, the rupee further declined by Rs1.40 against the dollar trading between Rs133.20 to Rs133.40. Furthermore, there were whispers that the market is expecting the removal of LUCK and UBL from the MSCI large Cap index to small cap in the next MSCI reclassification due on the 13th of November that further hampered the market.

Top heavyweights PPL (-2.70%), OGDC (-0.30%), HBL (-0.89%), ENGRO (-2.52%), MCB (-3.86%), UBL (-0.04%), FFC (-1.68%) and HUBC (-1.50%) cumulatively contributed -232 points. Sectors in general came down where financials, cements and oil overwrought the market where major banks HBL (-0.89%), MCB (-3.86) and UBL (-0.04%) closed in the red. Among cement heavyweights, LUCK (-3.85%) was the major laggard that closed near to limit down.

Traded volumes slightly improved by 22% DoD to 165m shares while value traded increased to $46m. Top volume stocks were TRG (-2.40%) and UNITY (+1.20%). Moving forward, it is expected that investor's sentiment will remain choppy amid absence of any macroeconomic triggers.

Therefore, the KSE-100 performance shall remain under pressure along with selling pressure from foreign investors.