Karachi, February 25, 2019: The Pakistan Stock Exchange continued negative sentiments on the first trading day of the week as index declined one percent.
The KSE-100 Index closed at 39,607 points on Monday as against 40,016 points Friday showing a decline of 409 points or 1 percent.
Market opened 26 points down but turned green for a short while upto +30 points. However, the selling pressure in Banking sector, especially UBL and HBL plunged the market.
UBL topped the volumes chart and price drop carried from previous sessions. Overall market volumes remained anaemic, where banking sector garnered most with 21 million shares out of which BOP did 12.2 million, followed by UBL 4.5 million shares. Absence of positive news triggers and heightened tensions on the border with India dented investor sentiment.
Volumes declined from 99 million shares to 68 million shares (-31 percent DoD). Average traded value also declined by 33 percent to reach $ 26 million as against $ 39 million.
Stocks that contributed significantly to the volumes include BOP, STPL, UBL, PAEL and KEL, which formed 40 percent of total volumes.
Stocks that contributed positively include FFC (+8pts), SHFA (+5pts), MCB (+5pts), POL (+3pts), and SCBPL (+3pts). Stocks that contributed negatively include HBL (-54pts), UBL (-51pts), HUBC (-31pts), LUCK (-27pts) and DAWH (-22pts).