Stock Market Position On Thursday: KSE-100 Lost 165.91 Points
On Thursday the stock market closed negative as the index fell in to red zone
Reason: PM’s appearance before the joint investigation team as he will defend corruption charges placed on him and his family.
The day opened negative but 450 points were gained initially.
Reason: Due to some industrial and consumer trading. 48,000 points were gained.
Then the index fell to 165.91 points that is 0.35%. 47,442.73 was the recording on index,
Intra-day high: 480 points
Intra-day low: -239
Companies that closed in green zone:
- Sui Northern Gas Pipelines: +2.7%
- Pak Elektron: +3.8%
- International Steels: +2.8%
- Kohat Cement: +2.96%
- Attock Refinery +2.44%
- Pakistan Oilfields: +1.05%
- Habib Bank: +0.46%
- National Bank: +0.35%
- Allied Bank: +0.74%
- K-Electric: +2.5% (Closed higher as Shanghai Electric confirmed to complete the acquisition contract)
- Sazgar Engineering Works: +5% (As the company exports rickshaws in Japan)
Companies that closed in red zone:
- United Bank: -3.3%
- Lucky Cement: -2.9%
- Oil and Gas Development Company: -1.6%
- Pakistan Petroleum: -1.6%
Read more: KSE-100 fell to 462.40 points on Wednesday
Investors should remain careful as political unrest prevails in the country.
Summary of overall results:
- Banking sector had a mix trading day with Habib Bank closing at +0.46% while United Bank closing at -3.3%.
- K-Electric was the volume leader as Shanghai Electric confirmed the completion of acquisition deal.
- Trading volumes rose to 355 million shares. 350 companies traded. 183 closed higher while 147 fell. 20 remained same. Value of shares traded was Rs11.6 billion.
- Power Cement, K-Electric and Engro Polymer were volume leaders with 109.9 million shares, 37.9 million shares and 22.1 million shares respectively.
- As per the data maintained by the National Clearing Company of Pakistan Limited Foreign official stakeholders were remaining sellers of Rs1.018 billion.