Benchmark KSE-100 index down by 158.39 points at Day End

During the day, Benchmark KSE-100 index observed a volatile session in the market, trading volume declined by 8.599 million shares during the current trading session. In the previous session, market closed at 44,536.91 level with a volume of 68.52mn.

Whereas the Bench mark KSE-100 index opened positively at 44,546.19, posted a day high of 44,761.84 and a day low of 44,335.54. The session closed at 44,378.52 with a net change of -158.39 points and a net trading volume of 59.921 million shares. Daily trading volume of KSE 100 dropped by 8.599 million shares or -12.54% on DoD basis. The momentum of the market shows the bearish trend in the upcoming session.

Some major sectors that acted as a leader in the negative market and pushes the index in the bullish zone are Oil and Gas Companies Sector, it was mainly up by the spike in oil prices in the international market. The major leaders in this sector were Pakistan Oil field Limited (POL), it contributed 29.56 points and Pakistan Petroleum Limited (PPL), it contributed 66.69 points. The other sector that contributed as a leader in the negative market is Fertilizer sector, it was mainly due to the rise in the urea price because of the upcoming shortages expected.

The two major bears, which pulled the index in the negative zone is Commercial Banks and Cement Sector. Commercial Banks negatively contributed 134.50 points, it was mainly due to the unfavorable taxes imposed on the banking sector whereas Cement Sector negatively contributed 63.17 points because there was a rise in the coal’s prices in the international market.

The laggards for the day was Pakistan Tobacco PAKT (down by 3.15% and contributed -17.07 points), UBL (down by 2.34% and contributed -43.69 points) and Lucky Cement (LUCK) (down by 2.61% and contributed -44.97 points)

The leaders for the day was Pakistan Petroleum Limited (PPL) (up by 3.29% and contributed 68.27 points), POL (up by 1.99% and contributed 29.56 points) and ENGRO (up by 1.50% and contributed 27.18 points).