KSE-100 index started the day with a strong footing, gaining more than 600 points in the first hour alone. However, the frenzy was short-lived. The KSE-100 index went tumbling down owing to the lack of investor participation.
The markets took a turn for negative in the second hour of the session and never recovered from the fall. Total numbers of trades during the day were slightly up from yesterday, although value and volume numbers declined.
Market is suffering from negative sentiment prevalent in the financial circles over the uncertain political future of the country. The lack of activity, decline in traded volume and traded value all indicate a reluctant investor mindset who seem to have taken a sabbatical until the jury is out on Prime Minister’s case.
Market lost a total of -358.78.66 points or a decline of -0.79% during today’s session. The index touched an intra-day low of 44971.68 points, a high of 46087.58 and closed at a tally of 45059.93 points.
The net gainers by price during today’s session were; Unilever Pakistan Foods Limited UPFL +290.00, Philip Morris Pakistan Limited PMPK +122.75, Wyeth Pakistan WYETH 45.25, Khyber Tobacco Company KHTC +36.77 and Gandhara Industries GHNI +24.16.
The net decliners by price during today’s session were; Sapphire Textiles Pakistan SAPT -99.20, Colgate-Palmolive Pakistan COLG -96.33, Sanofi-Aventis Pakistan Limited SAPL -62.85, Millat Tractors Limited MTL -23.33 and National Refinery Limited NRL -23.24.
All Share Volume decreased by 17.4 Million to 148.12 Million Shares.
Total companies traded were 360 compared to 361 from the previous session. Of the scrips traded 99 closed up, 243 closed down while 18 remained unchanged.
Total trades increased by 2,931 to 73,269.
Value Traded decreased by 30.8 million to Rs.9.63 Billion.
Top Ten Companies by Volume
TRG Pakistan Limited
Aisha Steels Limited
Dewan Farooque Motors Limited
Engro Polymer & Chemical Limited
Azgard Nine Limited
Sui Southern Gas Company Limited
Dewan Cement Limited
Sui Northern Gas Pipelines Limited
International Steels Limited
Siddiqsons Tin Plate Limited