Bears reclaim their territory

March 19, 2019 (MLN): Market bulls had a short run on trading floors yesterday as traders lost today’s session to bearish sentiments once again, having shed 239 points in benchmarks index by day end, to close it at 38,612 points which is 0.62% lower than yesterday’s closing.

The index managed to cross the 39,000 point mark in initial few minutes of today’s trade, marking an intraday high of 39,011 points. However, it continued to slip through rest of the day

Driven by Commercial Banks, Cement and Power Generation & Distribution, the index lost most points to the scrips of HUBC, LUCK and HBL. The share price of HUBC dropped by 2.4%, LUCK dropped by 2.1% while that of HBL declined by 1.2%.

54.8 million shares of 91 companies were traded within KSE – 100 index today, at PKR 2.8 billion. The value and volume of today’s trade fell short of yesterday’s value substantially.

Of all the constituents listed in KSE – 100 whose shares were traded today, 62 constituents recorded a decline in share price while only 27 companies recorded an increase.

Meanwhile, the broader KSE All Share index closed today’s trade in consolidation, having lost around 84 points to close the day at 28,314 points.

A total of 70.8 million shares were traded within the index, at PKR 3.2 billion.

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