Stock Market suffered from a bloodbath today as the market was hit by a political storm initiated by the Joint Investigation Report.
Questions over the submission of verdict by JIT into Supreme Court, the response of the PML (N) government and the future roadmap has created a heightened uncertainty in the markets. With investors spooked as to how the situation will unfold in the coming days, the market is expected to take a beating for the week.
The market witnessed a decline of 2,153.23 points or 4.65 percent, the single highest points drop and the highest percentage decline since Feb 2009. Market Cap decreased by Rs.402.88 Billion.
The index touched an intra-day low of 44,117.17 points, and closed at a tally of 44,120.58 points.
The net gainers by price during today’s session were; Colgate-Palmolive Pakistan COLG +40.00, Al-Abbass Sugar Mills AABS +8.90, Artistic Denim Mills ADMM +3.76, Huffaz Seamless Pipe Industries HSPI +2.04 and Haydari Construction company HADC +1.08.
The net decliners during the session were; Bata Pakistan BATA -167.00, Wyeth Pakistan WYETH -103.47, Sanofi-Aventis Pakistan SAPL -86.50, Mari Petroleum MARI -80.14 and Pakistan Tobacco Company Limited PAKT -80.00.
All Share Volume decreased by 50.13 Million to 185.17 Million Shares.
Total companies traded were 367 compared to 355 from the previous session. Of the scrips traded 17 closed up, 340 closed down while 10 remained unchanged.
Total trades decreased by 33,352 to 58,571.
Value Traded decreased by 2.92 Billion to Rs.9.90 Billion
| Company | Volume |
|---|---|
| K-Electric | 17,403,000 |
| TRG Pakistan | 9,683,000 |
| Aisha Steel Mills | 9,305,500 |
| The Bank of Punjab | 9,156,000 |
| Engro Polymer & Chemicals | 6,872,000 |
| Summit Bank | 5,437,000 |
| Dost Steels | 5,348,000 |
| Fauji Cement Company | 5,308,000 |
| Azgard Nine | 5,010,500 |
| Maple Leaf Cement Factory | 4,224,400 |
| Sector | Volume |
|---|---|
| Commercial Banks | 31,547,300 |
| Power Generation & Distribution | 21,845,700 |
| Engineering | 20,904,900 |
| Cement | 17,168,350 |
| Technology & Communication | 16,216,500 |
| Chemical | 12,639,020 |
| Fertilizer | 11,465,200 |
| Textile Composite | 8,456,800 |
| Oil & Gas Marketing Companies | 8,035,950 |
| Oil & Gas Exploration Companies | 4,257,060 |
