KARACHI: The stock market ended down by 273 points on Thursday as a range bound trading activity was observed during the day.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 47,363 points as against previous day’s closing of 47,635 points.
Analysts at Arif Habib Limited said that the market traded range bound between +124 points and -374 points, closing the session -273 points.
They said that rollover week had its toll on the market, besides disappointment from financial results and slippage of PKR against USD.
Selling pressure was evident in Cement, Steel, Power sectors. Among scrips, HASCOL led the table with 28.8 million shares, followed by GGL (25.1 million) and KOSM (21.6 million).
Sectors contributing to the performance include Cement (-134 points), O&GMCs (-32 points), Power (-19 points), Fertilizer (-19 points) and Banks (-17 points).
Volumes slightly declined from 384.6 million shares to 360.8 million shares (-6 per cent DoD). Average traded value however increased by 2 per cent to reach US$ 70.8 million as against US$ 69.4 million.
Stocks that contributed significantly to the volumes include HASCOL, GGL, KOSM, TPLP and WTL, which formed 30 per cent of total volumes.
Stocks that contributed positively to the index include SYS (+79 points), PSEL (+35 points), MCB (+13 points), BAHL (+8 points) and FABL (+8 points). Stocks that contributed negatively include LUCK (-75 points), TRG (-26 points), DGKC (-18 points), HBL (-16 points) and PSO (-14 points).
