Zubair Yaqoob
Karachi
Market declined by 1116pts during the session and closed -1027pts.
Geo-political and regional security concerns took toll on market sentiment and investors resorted to selling. Although crude price jumped significantly, with Arab Light trading near $73/bbl, Oil & Gas chain didn’t take any positive impact.
Power sector led the volumes with 52.6M shares, followed by Banks (29.1M) and Cement (22.8M). Among scrips, KEL topped the chart with 46M shares, followed by UNITY (17.6M) and BOP (16.9M).
The Index closed at 41,296pts as against 42,323pts showing a decline of 1027pts (-2.4% DoD). Sectors contributing to the performance include Banks (-186pts), Fertilizer (-155pts), Cement (-111pts), E&P (-92pts) and Power (-85pts). Volumes declined further from 322.9mn shares to 266.6mn shares (-17% DoD). Average traded value also declined by 29% to reach US$ 67.5mn as against US$ 94.8mn.
Stocks that contributed significantly to the volumes include KEL, UNITY, BOP, TRG and FFL, which formed 38% of total volumes. Stocks that contributed positively include JLICL (+4pts), DCR (+1pts), SCBPL (+0pts), COLG (+0pts). Stocks that contributed negatively include ENGRO (-97pts), HUBC (-65pts), LUCK (-53pts), PPL (-48pts), and FFC (-36pts).
