The week started off with carnage yet again as more than 88% of the scrips traded during the day ended in red.
The bears dominated today’s session as political turmoil hits the market harder than anticipated. The notice to Prime Minister to appear before Panama Leaks JIT sent the market into an acute lack of confidence. The investors continue to be bearish on the looming uncertainty over the JIT probe’s decision with respect to Prime Minister Sharif’s family.
Despite witnessing one of the biggest confidence boosting news in the near past, in a bizarre manner markets witnessed a nosedive on the day of inclusion. In a build up to MSCI inclusion, markets had rallied well past 50,000 points but the inclusion date shock and correctional aftermath erased confidence from the market along with profits for the investors.
The session witnessed a cumulative decline of 1855.12 points or a 3.75% decrease.
The index closed on a tally of 47671.80 points after reaching an intra-day high of 49526.92 and a low of 47538.17 points.
The net gainers during today’s session were; Pakistan Tobacco Company Limited PAKT +3.20%, Indus Motor Company Limited INDU +1.27%, Tandlianwala Sugar Mills Limited TSML +4.68%, Colgate-Palmolive Pakistan Limited COLG +0.26% and Glamour Textile Mills Limited GLAT +4.72%.
The net decliners during the session were; Sanofi-Aventis Pakistan Limited SAPL -5.00%, Mari Petroleum MARI -4.70%, Wyeth Pakistan Limited WYETH -3.37%, Hinopak Motors Limited HINO -4.29% and Millat Tractors Limited MTL-4.05%.
All Share Volume increased by 10.79 Million to 219.37 Million Shares. Market Cap decreased by Rs.320.48 Billion.
Total companies traded were 386 compared to 348 from the previous session. Of the scrips traded 26 closed up, 349 closed down while 11 remained unchanged.
Total trades increased by 4,813 to 63,483.
Value Traded increased by 1.08 Billion to Rs.9.27 Billion
|Bank Of Punjab(R)||15,946,000|
|Engro Polymer & Chemicals||12,826,500|
|The Bank of Punjab||7,275,000|
|Dewan Farooque Spinning Mills||5,935,000|
|Aisha Steel Mills||4,489,500|
|Technology & Communication||20,839,500|
|Power Generation & Distribution||9,041,600|
|Oil & Gas Marketing Companies||6,218,350|