May 7, 2019 (MLN): After mauling the market for the past 5 trading sessions, the bears took a back seat in today’s trade, allowing the dust to settle on the trading floors where the market participants drew a sigh of relief on the brief pause in KSE – 100’s decline today.
The benchmark index closed the trade in consolidation at 35,631 points, having gained only 25 points over yesterday’s tragically low closing value.
While a recovery of mere 25 points barely holds any value when compared to the 1,525 points lost in the last 5 sessions, the gathering speed of the index’s decline had been alarming the investors all around.
Within the index, Commercial Banks single-handedly led the index’s journey to green zone, having contributed over 180 points to it. In particular, the scrips of HBL, UBL and MCB had the biggest contribution.
Meanwhile, Cement sector played its role in weighing down the index by snatching over 40 points from it. LUCK is particular imposed the maximum damage among all other constituents.
Within the 100-index, a total of 54.6 million shares were traded at PKR 2.5 billion. The shares of only 89 companies were traded today, out of which 57 companies recorded a decline in their share prices.
On the other hand, the broader KSE All Share gained 48 points in today’s session, bringing the closing value to 26,281 points.
Over 65 million shares were traded at the broader KSE index today, at PKR 2.7 billion.
