Closing Bell: A bear-some loss!

March 25, 2019 (MLN): The local capital markets plunged in today’s trade following a sharp sell-off on the scrips of Oil & Gas Exploration Companies, Cement Companies and Fertilizer Companies. This led the benchmark KSE – 100 index to shed 403 points and lurk dangerously close to the 38,000 point mark.

The index concluded today’s trade on 38,128 points, more than 1% lower than previous session’s closing value.

The pessimism that loomed the trading floors today, had the biggest impact on the scrips of NESTLE and PSMC, each of which observed a 5% decline in their share prices.

Other than this, losses borne by OGDC and LUCK effected the index eminently by taking away 35 points and 33 points respectively.

Individually, OGDC suffered a 1.7% decline in its share price while LUCK’s share price declined by 2.8%.

A total 36.5 million shares of 90 companies’ were traded today, at PKR 2.3 billion, and 73 of these companies suffered a decline in share price overall.

Today’s trade volume fell 32.8% short of yesterdays, while its value fell 39% short.

The broader KSE All Share Index on the other hand lost 284 points today to close the session at 27,912 points which is 1% lower than Friday’s closing value.

Within this index, 56.5 million shares were traded at PKR 2.7 billion, while 207 companies recorded decline in their share prices.

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