Market watch
Benchmark KSE-100 index slips 114.93 points to settle at 39,914.76
TLTP
KARACHI
Pakistan Stock Exchange (PSX) witnessed a bearish trend as KSE-100 closed at 39914.76 points with negative change of 114.93 points (-0.29 percent) due to selling pressure seen throughout the session.
The total volume of shares traded was 576,547,157 while value of shares traded during the day stood at Rs17,537,085,809.
As many as 415 companies transacted shares in the stock market, out of total 118 recorded gains and 266 sustained losses, whereas the share price of 31 companies remained unchanged during the day.
Top three companies traded were Unity food with volume of 81,623,500 shares, Hascol petrol with 65,300,500 and World Call Telecom with 35,836,000.
Unilever Foods registered a maximum increase of 345.00 per share, closing at Rs9,000 while Rafhan Maize recorded a maximum decrease of Rs100 per share, closing at Rs7,950.
The analysts at Arif Habib Limited said that the market bore selling pressure due to selling activity in shares of cement, steel, E&P and banks.
OMCs and refinery sectors performed well, where ATRL and HASCOL hit the upper circuit and NRL traded near the upper circuit.
Though international crude prices were positive, local E&P companies saw selling pressure due to foreign selling.
Tech stocks took a breather, which were otherwise unabated, and saw TRG hitting lower circuit on the back of post IPO listing of its related party Ibex. Technology sector topped the volumes with 77.9 million shares, followed by O&GMCs (77.7 million) and cement (37.2 million).
Sectors contributing to the performance include O&GMCs (+31 points), power (+28 points), textile (+25 points), refinery (+13 points), technology (-48 points), cement (-45 points), E&P (-40 points), banks (-24 points) and insurance (-24 points).
Stocks that contributed positively to the index include MTL (+23 points), HUBC (+20 points), KTML (+16 points), KAPCO (+14 points) and PSO (+13 points). Stocks that contributed negatively include TRG (-41 points), MCB (-19 points), HCAR (-18 points), POL (-16 points) and DAWH (-16 points).
