Karachi, May 07, 2020: Thursday saw Pakistan equities close negative as the KSE-100 index ended the session at a level of 33,304, shedding 424 points (-1.3 percent) from its previous close.
During the session, traded value increased by 4 percent DoD to US$47 million while traded volumes shrunk 16 percent to 176 million shares. HASCOL (-4.9 percent), MLCF (-2.1 percent) and DGKC (-2.6 percent) were major volume contributors during the session.
Major decliners of the day were OGDC (-3.2 percent), PPL (-3.4 percent), HUBC (-2.5 percent), LUCK (-2.5 percent), BAHL (-3.0 percent) and POL (-2.7 percent). From the banking space investor’s interest was witnessed in HBL (1.5 percent), UBL (1.1 percent) and BAFL (0.2 percent) which closed higher than their previous day close.
Moving forward, we expect the market to remain sideways as the consolidation phase continues. However, investors should take the opportunity to accumulate stocks as the medium to long term trend remains bullish.
