LAHORE - Pakistan Stock Exchange suffered more losses on Thursday as the 100-share index shed another 431 points to close at 41,869 points owing to jitters from the political backdrop.

Volumes remained lackluster as 57 million shares changed hands. PAEL (-5%) from the cable & electrical goods sector led the market volumes with 7 million shares. Yesterday’s dull activity can be attributed to first day of Ramazan and political uncertainty. Banking sector led the decline in the market, as it closed (-1.1%) lower than its previous day’s close. MCB (-2.18%), UBL (-2.30%) and HBL (-0.85%) were major index movers from the aforementioned sector. Cement sector also lost ground where big players such as MLCF (-3.17%), LUCK (-2.11%), CHCC (-2.47%) and DGKC (-2.09%) lost value to close in the red zone.

Market experts expect bearish sentiments in the market to continue on the back of political uncertainties and concerning economic indicators. Also, potential redemptions in Mutual Funds are likely to cause further selling pressure. Hence, they recommended investors to remain cautious in trading.