Home Top News KSE-100 declines 120 points

KSE-100 declines 120 points

Zubair Yaqoob
Karachi

The benchmark KSE-100 index on Pakistan Stock Exchange (PSX) on Thursday went down again by the end of session, although early hours of trading were no different than the past week.
The market initially traded in a narrow band at low volumes and as the day progressed selling in blue chips became more pronounced particularly triggered by activity in OGDC. BOP topped the volumes table again, followed by UNITY and OGDC.
Cement sector which sustained pressures in the past sessions, also gave way to the pressure and saw prices coming off by the end of session despite continuous decline in international coal prices. The Index closed at 38,808pts as against 38,929pts showing a decline of 120pts (-0.3% DoD). Sectors contributing to the performance include Cement (-43pts), E&P (-31pts), Power (-24pts), O&GMCs (14pts), Engineering (-12pts), Fertilizer (+15pts), Textile (+14pts). Volumes declined from 94mn shares to 86mn shares (-8% DoD).
Average traded value however, increased by 2% to reach US$ 24.1mn as against US$ 23.6mn. Stocks that contributed significantly to the volumes include BOP, UNITY, OGDC, KEL and LOTCHEM, which formed 49% of total volumes. Stocks that contributed positively include KTML (+10pts), FFC (+8pts), EFERT (+7pts), PMPK (+6pts), and SEARL (+6pts). Stocks that contributed negatively include OGDC (-28pts), LUCK (-20pts), HUBC (-14pts), UBL (-11pts) and DGKC (-8pts).