Karachi, August 5, 2019: Market lost 687 points in total and closed 486 points from Friday’s closing. Declining cement dispatches, Concerns raised by O&GMCs on RLNG intake and India’s amendment in its Parliament relating to Kashmir caused a major blow to Investor sentiment.
Resultantly, Banks, Power, Steel, Cement, E&P, etc traded in red and contributed most to the downfall of Index. Overall volumes reached 52 million, led by Cement Sector. MLCF ranked highest on the volumes table with 4.8 million shares, followed by TRG (4.2 million) and ISL (3.5 million).
The Index closed at 31,181 points as against 31,666 points showing a decline of 486 points (-1.5 percent DoD). Sectors contributing to the performance include Banks (-195 points), E&P (-75 points), Power Generation (-52 points), Fertilizer (-42 points) and O&GMCs (-26 points).
Volumes increased from 46.5 million shares to 52.0 million shares (+12 percent DoD). Whereas, average traded value registered a decline of 12 percent DoD to reach US$ 11.3 million as against US$ 12.8 million.
Stocks that contributed significantly to the volumes include MLCF, TRG, ISL, BOP, and KEL, which formed 34 percent of total volumes. Stocks that contributed positively include NESTLE (+10 points), BAHL (+5 points), FATIMA (+4 points), ABL (+2 points) and ABOT (+2 points). Stocks that contributed negatively include UBL (-74 points), MCB (-41 points), HBL (-39 points), HUBC (-37 points) and PPL (-35 points).
