Market succumbs to profit-booking amid lack of triggers


The home fairness market kicked off the week on a optimistic word because the benchmark KSE-100 index hit an intra-day excessive of 46,139.54 mark however lack of optimistic triggers succumbed market in the direction of revenue reserving within the later hours.

In the meantime, the merchants remained cautious because the IMF in its evaluation has slapped six extra circumstances on Pakistan and cued concerning the pressurized financial variables. Moreover, the upper coal costs ($183/MT) and surge in Worldwide oil costs ($94/bb) led to a bearish sentiment throughout the board, a post-market word by Pearl Securities famous.

Accordingly, the benchmark KSE100 index settled the buying and selling session in purple with a decline of 68.40 factors to shut at 45,841.25. Of the 96 traded firms within the KSE100 Index 33 closed up 60 closed down, whereas three remained unchanged. The whole quantity traded for the index was 77.22 million shares.

Sector-wise, the index was let down by Cement with 45 factors, Expertise & Communication with 41 factors, Business Banks with 31 factors, Cable & Electrical Items with 11 factors and Prescription drugs with 9 factors.

Essentially the most factors taken off the index was by TRG which stripped the index of 38 factors adopted by LUCK with 15 factors, PAEL with 11 factors, UBL with 10 factors and MLCF with 10 factors.

Sectors propping up the index have been Oil & Fuel Exploration Firms with 58 factors, Fertilizer with 22 factors, Energy Era & Distribution with 11 factors, Inv. Banks / Inv. Cos. / Securities Cos. with 7 factors and Textile Composite with 5 factors. Essentially the most factors added to the index was by OGDC which contributed 32 factors adopted by PPL with 22 factors, ENGRO with 16 factors, HUBC with 12 factors and NBP with 12 factors.

All share quantity decreased by 42.38 million to 150.10 million shares. Market Cap decreased by Rs18.34 billion. Whole firms traded have been 362 in comparison with 360 from the earlier session. Of the scrips traded 114 closed up, 227 closed down whereas 21 remained unchanged.

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