Closing Bell - KSE 100 falls 1.3 percent

KSE – 100 flattered yet again after closing positive on Tuesday and held the same points yesterday. But the market dipped today after gaining in the first half and declining here from consistently till the day end.

Yesterday's market activity was eclipsed by the PKR depreciation which developed into a very visible tussle between the Central Bank and Finance Minister, Ishaq Dar today morning. The market sentiment was gloomy again after Mr. Ishaq Dar hinted at reversing the yesterday's depreciation to the same levels as of Tuesday.

FX markets responded to the statements issued by Finance Minister and the PKR appreciated to its earlier position in the first few hours of the market opening.

Almost all major sectors closed in red with notable names such HCAR, LUCK, FFC, POL and HUBC all closing negative. Experts expect the market to continue on its volatile journey, as there seems no respite with the worsening political situation in the country.

The session witnessed a cumulative incline of 590.31 points or a 1.30 percent.

The index touched an intra-day high of 45579.95 and a low of 44560.21 points, and closed at a tally of 44823.11 points.

The net percentage gainers by price during today's session were; Nestle Pakistan NESTLE +1.96%, Abbott Laboratories ABOT +3.28%, Wyeth Pakistan WYETH 1.04%, The Climax Engineering Company Limited CECL +5.00% and Packages Limited PKGS +1.31%.

The net percentage decliners during the session were; Rafhan Maize Products Limited RMPL -2.86%, Services Industries Limited SRVI -2.83%, National Refinery Limited NRL -4.92%, Millat Tractors Limited MTL -2.13% and Honda Atlas Cars HCAR -3.22%.

Top 10 volume Leaders; The Resource Group TRG 17.96 million, Aisha Steel Limited ASL 7.89 million, Engro Polymer & Chemical EPCL 6.49 million, International Steel Limited ISL 6.27 million and Pakistan International Bulk Terminal PIBTL 5.64 million.

All Share Volume decreased by 57.64 Million to 146.62 Million Shares. Market Cap decreased by Rs. 96.4 billion.

Total companies traded were 351 compared to previous session's number of 358. Of the scrips traded 72 closed up, 264 closed down while 15 remained unchanged.

Total trades decreased by 20,308 to 61,215.

Value Traded decreased by 4.107 Billion to Rs. 8.3 Billion.