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Voilence dampens
investors’ spirit
KSE index loses 99 points
Amanullah khan
Karachi—The Market atmosphere was completely overshadowed by bearish
clouds amid riots concerning lawyers’ movement, pushing index down
by 99 points here Thursday.
The Market from the very beginning was dominated by negative
sentiments and subsequently entered in the reds touching its
intraday low of 15177.59 index points. However, towards the later
stage market recovered as lower levels of prices lured major
investors to take new positions. Hence, market bounced back 127.33
index points or 0.83% from its intraday low, closing at the level of
15304.92 index points.
Diminishing confidence of the investors was also depicted in the
volumes as they shrank by 10.76% from 315.4mn yesterday to 304.7mn
today. Commercial Banking, Cement and Fertilizer attracted major
volumes of 58.7million, 56.8million and 39.9million respectively.
In individual scrips DGKC, FFBL and NML leads the race with
32.24million, 26.89million and 25million shares respectively. DGKC,
the market leader in domestic cement sales, is a chief beneficiary
of recent hike in the cement price.
This created positive sentiments towards the scrip which registered
volumes of 32.24million and share price increased by Rs.3.60 or 3.2%
to close at Rs118. FFBL, the second highest volume leader, was on
the other side of the coin on the back drop of increase phosphoric
acid price was under pressure today.
Despite registering volume of 26.89mn shares, the scrip closed near
its lower circuit at Rs.118.05. Other noticeable scrips were NML,
AHSL and LUCK with 25.0million, 16.7million and 13.8million shares
respectively.
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