Stock Market Position On Monday: Index Recorded Loss Of 265.22 Points – Research Snipers

Stock Market Position On Monday: Index Recorded Loss Of 265.22 Points

Another negative day was recorded on index this Monday. Though the day opened with KSE 100-share Index gaining 215 points, it was not sustained. As the day moved on the index went down by 540 points. Some points were recovered later but still the index closed in red zone.

Intra-day high: +225 points

Intra-day low:  -546 points

By the end of trading day, index went down by 265.22 points which is 0.57% and closed at 46,593.34.

 Why index closed in red zone?       

  • PM panama investigation
  • Current foreign outflows

Sectors that closed lower include fertilizer, cement and financial. Oil stocks helped reduce losses in market as there was an increase in global crude prices. It is expected that unstable trading would continue in near future. On Monday market did started in green zone but was not able to continue on it and lost points by the end of the day.

Read more: KSE-100 fell to 462.40 points

Closed negative

  1. Lucky Cement: -1.12%
  2. Siddiqsons Tin Plate Limited: -4.50%
  3. Habib Bank: -1.09%
  4. National Bank: -2.85%

Closed positive

  1. Nishat Mills: +3.22% (points gained due to announcement of participation in Select USA investment summit).
  2. Oil and Gas Development Company: +1.63%
  3. Pakistan Petroleum: +0.61%
  4. Pakistan Oilfield: +2.40%
  5. United Bank: +0.57%
  6. MCB Bank: +1.70%

Trading volumes increased to 170 million shares in comparison to Friday’s count of 129 million.

Total shares traded were of 360 companies

  • 110 stocks closed higher
  • 216 closed lower
  • 34 remained same

Value of shares traded: Rs9.1 billion.

Volume leader was WorldCall Telecom followed by K-Electric and TRG Pakistan with 15.4 million shares, 10.8 million shares and 10.7 million shares respectively.

Net seller was foreign official stakeholders of Rs460 million during the trading session, as per data by the National Clearing Company of Pakistan Limited.