After resisting for the past few sessions, the KSE-100 index finally gave up the 30,000-level as it dropped by 21.93 points or 0.07 per cent on Monday to close at 29,993.87.
Politics took the centre stage after the Tehreek-e-Insaf’s successful demonstration in Karachi on Sunday, as investors sensed it is a signal of a long-drawn out political impasse in Islamabad. Most institutional and individual investors thought it wiser to wait and watch from the sidelines.
The volume therefore slipped by 23pc to 115 million shares from Friday’s 150m shares with the day traders again trying to make quick gains in the third-tier stocks.
The overseas portfolio inflow of $0.6m went into oil and gas sector.The saving grace for the market was continuous interest of foreign investors who bought $2.03m worth stocks on Monday.
