Economy

Volatility at Pakistan stock continued

Karachi, July 11, 2019: KSE100 index, at Pakistan Stock Exchange, has been on a losing streak with continuous slide in both volume and index level. Yesterday, the volumes reached an 8 year low of 40 million, and on Thursday marked yet another low of 39.5 million shares.

Cement sector led the volumes table with 5.4 million, followed by Engineering (5.1 million) and Chemical (3.7 million). Scrip wise activity shows DSL ranking top again with 4.4 million, followed by MLCF (2.7 million) and HUBC (2.2 million).

The recent ouster of HUBC from Islamic indices is followed by an increase in trading volumes of HUBC. Market on close showed improvement in points table that resulted in index closing with +35points (unadjusted).

Index closed at 33,875 points as against 33,840 points showing an increase of +35points (+0.10 percent DoD). Sectors contributing to the performance include Banks (+42 points), Fertilizer (+15 points), O&GMC (+10 points), E&P (+9 points), Sugar (+2points).

Volumes decreased by 3 percent DoD to reach 39.5 million as against 40.6 million. Average traded value also decreased by 12.2 percent to reach US$ 9.1 million as against US$ 10.3 million.

Stocks that contributed significantly to the volumes include DSL, MLCF, HUBC, LOTCHEM and TPL, which formed 34 percent of total volumes.

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