During the day, Benchmark KSE-100 index observed a choppy session in the market, trading volume inclined by 20.131 million shares during the current trading session. In the previous session, market closed at 44,378.52 level with a volume of 59.921mn shares.
Whereas the Bench mark KSE-100 index opened negatively at 44,364.02, posted a day high of 44,440.10 and a day low of 43,925.64. The session closed at 44,066.96 with a net change of -311.56 points and a net trading volume of 80.052 million shares. Daily trading volume of KSE 100 rise by 20.131 million shares or 33.53% 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 Exploration Sector, this sector was positive by 10.86 points because of Mari Petroleum. Food and Personal care product Sector was also positive by more than 5 points because of the news that, the government is likely to abolish regulatory duty on import of dry milk to keep interest of foreign investors in the lucrative dairy sector.
The two major bears, which pulled the index in the negative zone is Commercial Banks and Fertilizer Sector. Commercial Banks negatively contributed 122.53 points, it was mainly due to the unfavorable taxes imposed on the banking sector whereas Fertilizer Sector negatively contributed 54.66 points because of the profit taking as the impact of the news was observed yesterday.
The laggards for the day was MCB (down by 2.26% and contributed -39.48 points), Millat Tractors (MTL) (down by 1.99% and contributed -11.79 points) and Thal Limited (THALL) (down by 2.77% and contributed -9.95 points)
The leaders for the day was Mari Petroleum Limited (MARI) (up by 2.83% and contributed 19.83 points) and POL (up by 0.46% and contributed 6.89 points).