Closing Bell: Monday Blues

Aug 05, 2019 (MNL): The Pakistani trading floors turned red today on account of a fresh round of quarrel with the neighbors and the possibility that the government might withdraw its decision to launch the State Enterprise Fund worth Rs.20 billion.

The Benchmark KSE100 index ended the trading session with a 485.61 point or 1.53 percent decline to close at 31,180.80.

The Index remained negative throughout the session touching an intraday low of 30,978.96 which is the first time since Feb 26, 2016 when the low was recorded at 30,802 points.

Of the 88 traded companies in the KSE100 Index 16 closed up 69 closed down, while 3 remained unchanged. The total volume traded for the index was 39.30 million shares.

Sector wise, the index was let down by Commercial Banks with 195 points, Oil & Gas Exploration Companies with 75 points, Power Generation & Distribution with 52 points, Fertilizer with 38 points and Oil & Gas Marketing Companies with 26 points.

The most points taken off the index was by UBL which stripped the index of 74 points followed by MCB with 41 points, HBL with 39 points, HUBC with 37 points and PPL with 35 points.

Meanwhile, the KSE All Share Volume increased by 5.56 Million to 52.01 Million Shares while market cap decreased by Rs.65.74 Billion.

Total companies traded were 314 compared to 311 from the previous session. Of the scrips traded 66 closed up, 227 closed down while 21 remained unchanged.

On the other hand, Total trades increased by 1,854 to 27,819 whereas value traded decreased by 0.24 Billion to Rs.1.79 Billion.

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