Finance

Stock closes lower by 45 points

Karachi, July 5, 2019: Pakistan Stock Exchange on a negative note with -45pts and continued the downtrend, which ended -323pts and merely ~20 million shares by the end of the first session.

The second session contributed an additional 30 million shares to end the total volume traded with 51 million shares. Fertilizer, O&GMCs, Cement, Banks and E&P sector came down during the trading session. Chemical Sector led the volumes with 9.3 million shares, followed by Cement 7.4 million shares. Among scrips, LOTCHEM registered the highest volume with 6.9 million shares, followed by DCR 6 million shares.

The Index closed at 34,190pts as against 34,571pts showing a decline of 381pts (-1.1 percent DoD). Sectors contributing to the performance include Banks (-90pts), Fertilizer (-67pts), E&P (-63pts), Cement (-37pts) and Power (-36pts).

Volumes declined to 51 million shares from 112 million shares (-54 percent DoD). Average traded value also declined by 58 percent to reach US$ 11.8 million as against US$ 28 million.

Stocks that contributed significantly to the volumes include LOTCHEM, DCR, MLCF, TRG and UNITY, which formed 40 percent of total volumes.

Stocks that contributed positively include INDU (+9pts), NESTLE (+5pts), MEBL (+5pts), NATF (+4pts) and LOTCHEM (+3pts). Stocks that contributed negatively include HBL (-32pts), POL (-29pts), MCB (-28pts), ENGRO (-22pts) and FFC (-20pts)

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