Closing Bell: Time does not heal everything!

April 1, 2019 (MLN): Time certainly doesn’t heal everything as indicated by the benchmark index’s performance today, which still refuses to come out of the void it’s currently residing in. Evidently, the hike in interest rates continues to haunt the investors, prompting them to indulge in aggressive selling.  

The index at one point dived below the 38,000 mark, and then recovered back to close at 38,036 after losing 318 points.

Commercial Banks, E&P Companies and Power Generation Companies emerged as the worst performers today as they pulled the index down by 194 points.

The major scrips that contributed in the index’s performance were HBL (-2.60%), HUBC (-1.49%), PSO (-2.37%), MCB (-0.93%) and SNGP (-2.75%).

The index observed trading of 65 million shares of the listed scrips, having a total value of Rs. 3.4 billion. Within a range of 625 points, the index touched an intra-day high of 38,557 points and an intra-day low of 37,932 points. 

The broader KSE All Share index also fell beyond the 28,000 mark, as it lost around 241 points and closed at 27,774 points. It traded nearly 144 million shares, having a value of Rs. 3.9 billion.

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