Pakistan Stock Exchange (PSX)snapped its three-day winning session on Monday, as benchmark kse-100 index failed to sustain bullish momentum and succumbed to profit-taking. On the first trading session of the week, the index crossed 46,000 mark for the first time since April 2018, but pared earlier gains to close at 45,605.42 index level, after losing 48.92 points by the closing bell. The initial buying activity was witnessed across the board, as investors geared up in anticipation of annual financial results. During the session major moves were recorded in blue-chip stocks, especially in banking scrips, which have remained muted in the previous rally. However, after peaking at intra-day high at 46,109.36 index level, the index, lost momentum thereon and fell to its intraday low at 45,529.48 after it lost 124.86 points. Investors reacted to State Bank of Pakistan (SBP) Governor Reza Baqirwho said that Pakistan is in talks with the International Monetary Fund (IMF) to put the fiscal support programme back on track, adding that he was optimistic about the economic outlook despite the fallout from the coronavirus pandemic. The governor said “We hope to have good news for the market and the world that we are putting the programme back on track,” the country’s central bank governor said in an interview at the Reuters Next conference on Monday.Pakistan and the IMF have been working to implement IMF-supported economic reforms, in particular tax collection, aimed at stabilising the economy and shoring up a yawning fiscal deficit. Though the bailout programme is still pending, Pakistan received $1.4 billion in emergency financing from the IMF to allow it to fund targeted and temporary spending increases aimed at containing the pandemic and mitigating its economic impact. Investors’ confidence were also buoyed by positive macro-economic data, as growth in exports and record- breaking increase in foreign remittances lifted the market sentiments. Pakistan’s exports for the month of December 2020 have grown to $ 2.357 billion by rate of 18.3 percent as compared to December 2019.According to provisional data, Pakistan exports for the month of December 2020 have grown by 18.3 percent to $ 2.357 billion as compared to $ 1.993 billion in December 2019, an increase of $ 364 million over December 2019, the Adviser said this on his official twitter account. Meanwhile, country’s remittances remained above $2 billion for sixth consecutive month in December, at $2.4 billion. The volume at Kse-100 diminished from 457.58 million shares recorded in the previous session, to 264.622 million shares, while the all share volume also dimmed from 696.4 million shares in the previous session to 588 million shares. The volume chart was led by Silk Bank Limited, Hum Network Limited and Byco Petroleum Pakistan Limited. The scrips exchanged 69.92 million, 64.06 million and 61.52 million shares, respectively. Sectors that dented the index were Commercial Banks with 44 points, Textile Composite with 21 points, Technology & Communication with 20 points, Oil & Gas Exploration Companies with 12 points and Automobile Assembler with 10 points. Among the scrips, the most points taken off the index was by United Bank Limited which stripped the index of 23 points followed by Meezan Bank Limited with 20 points, Pakistan Petroleum Limited with 15 points, TRG Pakistan Limited with 12 points and Muslim Commercial Bank with 11 points. However, Sector’s that propped up the index were Power Generation & Distribution with 42 points, Pharmaceuticals with 38 points, Chemical with 12 points, Leather & Tanneries with 8 points and Inv. Banks with 6 points. Among the sxrips, the most points added to the index was by The Searle Company Limited which contributed 38 points followed by KotAddu Power Company Limited with 26 points, Colgate-Palmolive (Pakistan) Limited with 21 points, The Hub Power Company Limited with 16 points and Bank Al Habib Limited with 10 points.