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.
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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.
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).