KARACHI: The share market fell by 203 points on Tuesday owing to rising concerns over FATF upcoming meeting and rising inflation number.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 40,007 points as against 40,210 points showing a decline of 203 points.
Analysts at Arif Habib Limited said that the market continued the downtrend today following yesterday’s attrition on account of FATF concerns, which was further worsened by an uptick in inflation numbers.
Overall, the index lost 564 points but partly recovered by the end of session to close -203 points.
Selling was observed almost across the board, with the exception of PSO, HBL, UNITY, KEL among stocks which traded positive for better part of the session.
Buying activity in LUCK close to end of session also contributed to the recovery in lost points. HASCOL topped the volumes with 43.8 million shares, followed by TRG (28.5 million) and UNITY (19.1 million).
Sectors contributing to the performance include E&P (-68 points), Banks (-32 points), Fertilizer (-30 points), Power (-25 points) and Cement (-19 points).
Volumes declined from 377.6 million shares to 290.1 million shares (-23 percent DoD). Average traded value also declined by 24 percent to reach US$ 59.9 million as against US$ 78.9 million.
Stocks that contributed significantly to the volumes include HASCOL, TRG, UNITY, KEL and PIBTL, which formed 42 percent of total volumes.
Stocks that contributed positively to the index include HBL (+17 points), TRG (+8 points), LUCK (+8 points), DAWH (+8 points) and KEL (+8 points). Stocks that contributed negatively include HUBC (-32 points), PPL (-27 points), OGDC (-24 points), MCB (-23 points) and ENGRO (-21 points).
