KARACHI: The share market lost another 102 points on Wednesday as many scrips were remained under pressure due to gas price hike.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) was closed at 34,088 points as against 34,191 points showing a decline of 102 points.
Analysts at Arif Habib Limited said that the market continued the downtrend today with -459 points during the session, however, recovered by end to limit the loss to -102 points.
Majority of the traded volume today and yesterday has been repo-reverse repo transaction, which is a highlight of June end.
KEL topped the volumes with 30 million shares followed by BOP (9 million).
Sector wise performance reflects Power sector leading the table with 35 million shares, followed by Banks and Cement (19 million each).
Cement sector remained under pressure throughout the day, which was caused by a host of reasons including the recent gas tariff hike by the government.
Sectors contributing to the performance include Banks (-79 points), O&GMCs (-25 points), Tobacco (+26 points), Power (+26 points) and Food (+17 points).
Volumes increased from 144.9 million shares to 158.6 million shares (+9 percent DoD).
Average traded value also increased by 18 percent to reach US$ 30 million as against US$ 25.5 million.
Stocks that contributed significantly to the volumes include KEL, BOP, HMB, FFBL and FCCL, which formed 34 percent of total volumes.
Stocks that contributed positively include PAKT (+26 points), HUBC (+21 points), POL (+16 points), NESTLE (+11 points) and FATIMA (+9 points).
Stocks that contributed negatively include HBL (-50 points), UBL (-26 points), PSO (-16 points), SEARL (-12 points) and ENGRO (-11 points).
