Finance

PSX index closed at a decline of 193pts

Karachi, August 25, 2021: Market saw continued selling pressure which was partly due to ongoing roll-over activity and partly the profit booking in Cement, Fertilizer, Technology, and Oil & Gas chain. O&GMCs sector faced selling pressure in PSO, which persisted since yesterday when the company disclosed its financial results to the dismay of investors.

Activity remained lackluster and the index lost a total of 211 points after recording a gain of 88 points. The index closed -193 points. Among engineering sector stocks, ISL declared a hefty dividend besides significant earnings, with the stock contributing to the high traded value and an uptick.

Read More: KSE 100 market index closing at 0.59pc

Among scrips, WTL topped the volumes with 38 million shares, followed by ANL (33.3 million) and GGL (22 million).

The Index closed at 47,636 points as against 47,829 points showing a decline of 193 points (-0.4 percent DoD). Sectors contributing to the performance include Cement (-67 points), Misc (-35 points), Technology (-26 points), O&GMCs (-23 points) and E&P (-17 points).

Volumes slightly declined from 394.9 million shares to 384.6 million shares (-3 percent DoD). The average traded value also declined by 16 percent to reach US$ 69.2 million as against US$ 82.2 million.

Read More: Market closing near session’s high trade with 512pts

Stocks that contributed significantly to the volumes include WTL, ANL, GGL, FNEL, and KOSM, which formed 32 percent of total volumes.

Stocks that contributed positively to the index include MCB (+11 points), ISL (+7 points), FFC (+7 points), MTL (+5 points) and BAFL (+5 points). Stocks that contributed negatively include PSEL (-35 points), LUCK (-21 points), TRG (-15 points), DGKC (-15 points) and MLCF (-13 points).

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