LAHORE - The Pakistan Stock Exchange closed on a negative note on Monday as the benchmark KSE 100-index shed 85 points. The index opened on a positive note, continuing on an upward trajectory, reaching a high of +353 points; however, it slid in the final minutes of the trading session to close at 38,345 points. On the economic front, the Financial Action Task Force's (FATF) has expressed dissatisfaction over Pakistan's progress to comply with some of its conditions.

Trading activity slightly improved as average daily traded value stood at $56 million and volume stood at 235 million, up 2 percent. In terms of sector performance, automobiles remained in the limelight where HCAR (+5 percent) and INDU (+5 percent) closed at their respective upper limits on news of recent price increases. Mixed sentiments were seen in financials where HBL (+1.50 percent) closed positive, whereas MCB (-0.17 percent) and UBL (-0.75 percent) closed negative. On the flip side, cements and E&Ps remained major dampeners with LUCK (-2.32 percent), PPL (-2.29 percent) and POL (-1.09 percent) closing in the red. Furthermore, major contribution to total market volumes came from TRG (+4.10 percent), BOP (+2.52 percent) and NRSL (+2.45 percent).

Moving forward, experts expect investor sentiments to remain slightly positive in the short term. However, the KSE-100 performance shall remain volatile and choppy along with selling pressure from foreign investors.