Closing bell: A long standing feast for bears!

March 15, 2019 (MLN): The KSE-100 index closed the week on a highly disastrous note, as it went down by 501 points to close at 38,306 level. Considering the market’s performance over the last couple of days, it seems that investors are anxiously waiting for positive triggers. However, nothing significant is happening or expected as of now to pave way for optimistic sentiments amongst investors.

Commercial Banks and Cement companies contributed the most to the index losses as they cumulatively chipped away around 214 points. This was followed by E&P companies as they dragged the index down by 53 points.

The major scrips that contributed in the index’s decline were LUCK (-4.19%), POL (-2.82%), HBL (-1.57%), MCB (-1.74%) and PPL (-1.33%).

The index observed trading of 100 million shares of the listed scrips, having a total value of Rs. 3.9 billion. Within a range of 651 points, the index touched an intra-day high of 38,839 points and an intra-day low of 38,187 points. 

The broader KSE All Share index depicted similar performance, as it lost around 263 points and closed at 28,174 points. It traded nearly 129 million shares, having a value of Rs. 4.5 billion.

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