Share market sheds 151 points in narrow range trading

Share market sheds 151 points in narrow range trading

KARACHI: The share market ended down by 151 points on Friday in narrow range trading during the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 47,489 points as against previous day’s closing of 47,640 points, showing a decline of 151 points.

Analysts at Arif Habib Limited said that the market largely traded in a narrow range and lost a total of 216 points.

Oil and gas marketing companies, Cement, Chemical, Refinery and Technology sectors continued seeing selling pressure from the previous couple of sessions.

LUCK saw a significant drop in the closing half hour, which brought its price below LDCP by a large margin.

Among scripts, PASL led the volumes with 66.9 million shares, followed by UNITY (35.5 million) and DSL (25.9 million).

Sectors contributing to the performance include Technology (-50 points), Cement (-34 points), Vanaspati (-25 points), Textile (-18 points), Banks (+28 points) and Glas (+21 points).

Volumes declined from 546.8 million shares to 499.7 million (-9 per cent DoD). Average traded value also declined by 11 per cent to reach US$ 83.5 million as against US$ 94.1 million.

Stocks that contributed significantly to the volumes include PASL, UNITY, DSL, WTL and FFL, which formed 36 per cent of total volumes.

Stocks that contributed positively to the index include MEBL (+21 points), GHGL (+21 points), BAFL (+11 points), MCB (+7 points) and INIL (+75 points). Stocks that contributed negatively include TRG (-32 points), UNITY (-25 points), LUCK (-20 points), SYS (-13 points) and HUBC (-12 points).

Leave a Reply

You have to agree to the comment policy.