Closing Bell: Damn you, neighbor!

Aug 23, 2019 (MNL): After a sweet and smooth ride in the first four sessions of the week, the KSE-100 index ultimately ended up in the red district as it lost 534 points and closed at 31,350 mark.

Without any doubts, the chaos was ignited by Indian media, as it falsely claimed that Pakistan has been blacklisted by Financial Action Task Force.

However, some of the blame for today’s dreadful performance can be rendered to profiteers as well, as they conveniently took up this opportunity to sell of their shares for personal gains.

The Index traded in a range of 866.60 points or 2.72 percent of previous close, showing an intraday high of 32,100.31 and a low of 31,233.71.

Of the 90 traded companies in the KSE100 Index 22 closed up 67 closed down, while 1 remained unchanged. Total volume traded for the index was 174.37 million shares.

Sector wise, the index was let down by Commercial Banks with 170 points, Oil & Gas Exploration Companies with 106 points, Power Generation & Distribution with 80 points, Fertilizer with 63 points and Oil & Gas Marketing Companies with 32 points.

The most points taken off the index was by HUBC which stripped the index of 62 points followed by HBL with 47 points, PPL with 46 points, FFC with 42 points and UBL with 38 points.

All Share Volume decreased by 30.97 Million to 230.73 Million Shares. Market Cap decreased by Rs.71.35 Billion.

Total companies traded were 358 compared to 389 from the previous session. Of the scrips traded 130 closed up, 213 closed down while 15 remained unchanged.

Total trades increased by 2,470 to 79,171.

Value Traded decreased by 0.41 Billion to Rs.7.22 Billion

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