Bears resume feeding on lack of positive triggers

March 14, 2019 (MLN): After a day’s breather from daily losses, the capital markets are once again found channeling bearish sentiments as the benchmark KSE – 100 index lost another 120 points in today’s trade, closing the session at 38,808 points and successfully keeping the index from crossing the much anticipated 39,000 points mark.

Today’s trade was driven on the back of Cement Companies and Oil & Gas Exploration Companies which collectively took away 73 points from the index.

In particular, points lost on the scrips of OGDC and LUCK were the key navigators today. OGDC recorded a decline of 1.43% in share prices while LUCK observed 1.56% decline at close.

Nearly 59 million shares of 92 listed companies were traded within KSE - 100, at PKR 2.7 billion. 60 of these companies recorded a drop in shares prices while only 30 companies reported rise.

Amongst these companies, PMPK recorded largest gain in share prices, a net change of Rs.96.56.

On the other hand, the broader KSE All Share index closed the session in consolidation, having lost 89 points to conclude at 28,437 points at day end.

Within the index, 85.9 million shares were traded at PKR 3.3 billion today.

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