Market watch: KSE-100 annals lowest trade in 3 years, ends in a red
Benchmark index drops 431.41 points to tighten during 49,526.92. PHOTO: FILE
KARACHI: The KSE-100 index continued a downward march to tighten a week down by 431.41 points with lowest volumes in roughly 3 years.
At a finish of trade on Friday, a benchmark KSE 100-share Index available a tumble of 0.86% during 49,526.92.
Elixir Securities, in a report, settled Pakistan equities slipped by as many as 0.9% on a final day of a week on across-the-board profit-taking amid record skinny activity. Volumes on a benchmark KSE-100 index were a lowest in roughly 3 years.
“The marketplace non-stop on a lifeless note and drifted reduce as a event progressed with index names witnessing really resourceful appearance approaching due to shorter trade generation on Friday during Ramazan,” pronounced researcher Ali Raza.
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Almost all sectors sealed reduce and pulled a benchmark index to exam and tighten nearby 49,500, exclusive name pharma bonds that finished aloft on reported institutional interest.
“We see foreigners’ activity to beam marketplace instruction subsequent week with volumes picking adult as investors demeanour brazen to a doing of much-awaited precedence product that is approaching to move uninformed flows,” Raza added.
JS Global researcher Arhum Ghous pronounced a marketplace underwent improvement with prices disappearing for many stocks, pulling a KSE-100 index to 49,527, 431 points subsequent a final trade day.
“Commercial bank heavyweights including MCB Bank (-1.25%), Habib Bank (-1.65%), United Bank (-1.82%) and National Bank (-1.35%) cumulatively contributed -130 points to a market,” pronounced Ghous.
Market watch: KSE-100 practice another lifeless session, ends small changed
In a automobile sector, Indus Motor (-0.97%) declined on a behind of news that a association had removed 2,700 cars due to inadequate ascent bolts.
In annoy of certain news in a concrete zone about cost increase, bonds in a zone strew points in a trade session.
Lucky Cement (-0.43%), DG Khan Cement (-0.83%) and Kohat Cement (-1.02%) were vital laggards of a sector.
“Trading activity was led by a concrete zone and a chemical zone with 32 and 31 million shares traded respectively,” a researcher said.
“Moving forward, we design a marketplace to sojourn underneath vigour and suggest investors to stay discreet during stream levels.”
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Overall, trade volumes forsaken to 208 million shares compared with Thursday’s total of 268 million.
Shares of 348 companies were traded. At a finish of a day, 95 bonds sealed aloft and 231 declined while 22 remained unchanged. The value of shares traded during a day was Rs8.2 billion.
Power Cement (right shares) was a volume personality with 25.7 million shares, losing Rs0.39 to tighten during Rs1.20. It was followed by Engro Polymer with 18.8 million shares, losing Rs1.19 to tighten during Rs36.90 and WorldCall Telecom with 15.8 million shares, gaining Rs0.25 to tighten during Rs3.51.
Foreign institutional investors were net buyers of Rs792 million during a trade session, according to information confirmed by a National Clearing Company of Pakistan Limited.
Article source: https://tribune.com.pk/story/1431543/market-watch-kse-100-records-lowest-trading-3-years-ends-red/