Finance

Pakistan Stock remained slide

Karachi, August 2, 2019: Following the trend of past 3 months, Pakistan Stock Market slid again following the close of rollover week and saw index slip by a total of 405 points, ending the session with -172 points.

E&P, Banks and Power sectors contributed to the decline in index, where selling pressure was observed in HUBC, MCB, HBL, UBL, POL and PPL. Cement sector again led the volumes with 8.8 million shares, followed by Engineering (8.7 million) and Banks (3.7 million). ISL became the volume leader with 5 million shares, followed by MLCF (4.5 million) and FCCL (2.1 million).

The Index closed at 31,666 points as against 31,839 points showing a decline of 173 points (-0.5 percent DoD). Sectors contributing to the performance include Banks (-115 points), E&P (-64 points), O&GMCs (-26 points), Food (+16 points) and Power (-12 points).

Volumes declined from 70.6 million shares to 46.4 million shares (-34 percent DoD). Average traded value, on the other hand, registered a slight increase of 1.5 percent DoD to reach US$ 12.8 million as against US 12.6 million.

Stocks that contributed significantly to the volumes include ISL, MLCF, FCCL, MUGHAL, and PAEL, which formed 33 percent of total volumes.

Stocks that contributed positively include HUBC (+12 points), NESTLE (+10 points), LUCK (+9 points), ISL (+5 points) and PKGS (+4 points). Stocks that contributed negatively include PPL (-40 points), HBL (-32 points), MCB (-26 points), UBL (-24 points) and NBP (-14 points).

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