The market witnessed a rise of 185 points during the intraday trading. The markets closed up by 0.42percent on the first day of week as the political cloud continues to hover above PSX.
The markets witnessed a record decline in volumes today for the incumbent year, as the value for the day was way below the average numbers. The market closed at a volume level of 75 million, a 100 million short of the average volume traded in the last week and 229 million short of the average volume traded during 2017. This has been the highest drop in volume traded during the day since March 20th, 2016 when the value dropped to 86 million.
Average daily trading since the 1st of January, 2017 has been 304,664,397.
The markets have witnessed a decline in investor participation as the political situation continues to remain uncertain. The political upheaval and the consequences thereof have taken spooked investors and decreased the confidence in the markets. This has resulted in a year-to-date decline of more than 7 percent in the incumbent year since January 1st, 2017.
The daily trades’ numbers in today’s session were also down by 34 percent from the average number of trades per day in the last week.
Also, State Bank released Financial Investment numbers for the outgoing financial year, which were down by 66 percent. Equity investments have taken a major hit in the outgoing fiscal year, as foreign investors continue to hold back over the political crisis prevalent in the country.
Market added a total of 185.77 points or a gain of 0.42% during today’s session. The index touched an intra-day low of 43975.12 points, a high of 44630.07 and closed at a tally of 44523.21 points.
The net gainers by price during today’s session were; Rafhan Maize Pakistan Limited RMPL +332.50, Unilever Pakistan Foods Limited UPFL +199.94, Khyber Tobacco Company Limited KHTC +36.86, Abbot Laboratories ABOT +26.83 and Indus Motor Company INDU +24.69.
The net decliners by price during today’s session were; Phillip Morris Pakistan PMPK -113.55, Colgate-Palmolive Pakistan COLG -45.00, Jubilee Life Insurance Company Limited JLICL -33.68, Highnoon Laboratories Limited HINOON -29.56 and Murree Brewery Company MUREB -15.00.
All Share Volume decreased by 36.85 Million to 75.28 Million Shares.
Total companies traded were 356 compared to 334 from the previous session. Of the scrips traded 174 closed up, 165 closed down while 17 remained unchanged.
Total trades decreased by 2,984 to 44,684.
Value Traded decreased by 1.77 Billion to Rs.4.18 Billion
Top Ten Companies by Volume
Engro Polymer & Chemical Limited
Dewan Faroque Motors Limited
TRG Pakistan Limited
Bank of Punjab
Aisha Steels Limited
Sui Southern Gas Company Limited
Dost Steels Limited
Dewan Cement Limited