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:

  1. Sui Northern Gas Pipelines: +2.7%
  2. Pak Elektron: +3.8%
  3. International Steels: +2.8%
  4. Kohat Cement: +2.96%
  5. Attock Refinery +2.44%
  6. Pakistan Oilfields: +1.05%
  7. Habib Bank: +0.46%
  8. National Bank: +0.35%
  9. Allied Bank: +0.74%
  10. K-Electric: +2.5% (Closed higher as Shanghai Electric confirmed to complete the acquisition contract)
  11. Sazgar Engineering Works: +5% (As the company exports rickshaws in Japan)

Companies that closed in red zone:

  1. United Bank: -3.3%
  2. Lucky Cement: -2.9%
  3. Oil and Gas Development Company: -1.6%
  4. 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.

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