The Pakistan Inventory Trade landed within the purple on Thursday because the benchmark KSE-one hundred index shed 204 factors, or zero.forty one per cent, by the shut of the buying and selling session to succeed in forty nine,958 factors, slightly below the 50,000 mark.
The index examined the day’s excessive at 50,290 factors round an hour after buying and selling opened however did not maintain the momentum. The day’s low of forty nine,875 got here in the direction of market shut.
Buying and selling exercise was led by the engineering sector, with forty three.5 million shares traded in the course of the session.
“Renewed considerations over unretired round debt within the power sector performed a catalyst position in a bearish shut,” stated senior analyst Ahsan Mehanti.
Shares closed sharply decrease amid strain on oil shares amid a stoop in international crude costs and considerations over overseas outflows on the bourse, he added.
He added that cement and banking shares remained underneath strain on greater tax levies within the federal price range.
A complete of sixty four.8mn shares of KSE-one hundred index corporations modified arms within the session, with a complete value of almost Rs8.2 billion.
Shares of 384 corporations have been traded, of which 149 gained in worth, 221 declined and 14 remained unchanged.
Volumes have been led by:
Financial institution of Punjab: 25.9m shares traded [-17.36pc];
Energy Cement(R): 25.6m shares traded [-17.19pc];
Dost Steels Ltd: 22.5m shares traded [+4.09pc];
Azgard 9: 13m shares traded [-0.58pc];
Dewan Farooque Sp: 12m shares traded [-10.94pc];
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