The Pakistan Inventory Change ended Thursday’s buying and selling session on a unfavorable word, with the benchmark KSE-one hundred index dropping 426.30 factors, or zero.88 per cent, by the shut of buying and selling to succeed in forty seven,949.
104.three million shares modified palms within the session, with a complete value of almost Rs7.25 billion.
“One other uninteresting session was witnessed as buyers trimmed their positions forward of the Panama choice,” stated Hammad Aman of Topline Securities. “Furthermore, the absence of triggers and [the futures] roll-over week stored strain available on the market.”
“Through the first half of the session, some curiosity was seen in oil and fuel exploration shares on the again of an uptick in worldwide oil costs. Nevertheless, oil shares got here underneath strain within the second half because of the aforementioned elements,” he added.
“Investor considerations over the result of regulatory actions on non-compliant brokerage companies and leverage product points performed a catalyst position within the bearish shut,” stated Ahsan Mehanti, analyst at Arif Habib Corp.
Shares of 363 corporations in all have been traded, of which eighty four gained in worth, 266 declined and thirteen remained unchanged.
Volumes have been led by business banks and textile composite firm shares because the continued bearish sentiment pushed the benchmark index under the forty eight,000 mark.
Volumes have been led by:
Azgard 9: 34m shares traded [+6.63pc];
Financial institution of Punjab: 25.6m shares traded [-6.23pc];
Jahangir Siddiqui Co: 19.9m shares traded [+4.22pc];
Okay-Electrical Ltd: 10m shares traded [-1.56pc]; and,
TRG Pak Ltd: 9.79m shares traded [-4.99pc].
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