Banking Scandal and Political uncertainty prompts another Meltdown as KSE 100 looses over 950 points

Amidst political uncertainties before the upcoming elections on July 25th 2018 and following National Accountancy Bureau (NAB)’s verdict against Former Prime Minister Nawaz Sharif, KSE – 100 Index took a steep dive of about 955 points, dipping by 2.47% at the end of the day’s session.

KSE – 100 index closed in at 39,288.48 points, with an index high – low range of 1,305.75 points. Analysts believe the market will continue to have a rough patch ahead of the ex Prime Minister’s return to the country this week as well as the fake bank account case hearing on Thursday.

Volume traded at KSE – 100 index was about the same as the last trading session, as the volume traded by the end of today’s session was recorded at 75.5 million shares, compared to 75.64 million traded shares in the previous session on Friday last week.

The Supreme Court barred the heads of three private banks namely United Bank Limited (UBL), Sindh Bank and Summit Bank from travelling abroad on account of allegations of suspicious transactions. As a result, the Commercial Banking Sector remained on top of the list of net losers today and was closely followed by the Fertilizer industry and the Cement sector, as the three collectively took away 531 points from the index.

Sector wise top performers included Real Estate Investment Trust and Glass & Ceramics that collectively contributed 2.45 points to the index.

Within the KSE – 100 index, 8 companies ended the session positively whereas a total of 81 were negative at the day end.

KSE – All share Index closed in at 28,890.60 points, down by 2.13 percent. It moved in the range of 812.64 points. 

KSE All Share Index’s sector turnover was led by Commercial Banks (21.6 million) followed by Power Generation & Distribution (13.9 million), Cement (11.9 million) and Chemical (10.12 million).

The All-Share Index Volume was recorded at 123.4 million shares, while the value of shares traded reached PKR 5.3 billion

In KSE – All Share index, 30 companies closed in the green whereas 255 companies were down at the day end.

 

Net Gainers

Symbol

Companies

Net Change

SAPT

Sapphire Textiles Mills Limited

18.63

ATBA

Atlas Battery Limited

16.12

NATF

National Foods Limited

12.04

SAZEW

Sazgar Engineering Works Limited

8.55

PICT

Pakistan International Container Terminal Limited

6.05

 

Net Losers

Symbol

Companies

Net change

INDU

Indus Motor Company Limited

-59.34

PAKT

Pakistan Tobacco Company Limited

-52.50

MARI

Mari Petroleum Company

-52.41

SIEM

Siemens Engineering Company

-50.58

SFL

Sapphire Fibres Limited

-43.85

 

Volume Leaders

Symbol

Companies

Volume

KEL          

K-Electric

11,927,000

BOP

Bank of Punjab

8,445,500

LOTCHEM

Lotte Chemical Pakistan Limited

5,811,500

UNITY

Unity Foods Limited

5,120,500

PAEL

Pak Elektron Limited

4,362,000

 

 

Posted on: 2018-07-09T18:02:00+05:00

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