KSE-100 loses 421.27 points on HBL news

September 29, 2022 (MLN): KSE-100 index closed in the red zone by losing 421.27 points as the market reacted negatively to the news of HBL that the bank faces secondary liability under the justice against sponsors of terrorism act. And as a party that aids and abets by knowingly providing substantial assistance.

By the session’s end, the total volumes of the KSE-100 index stood at 74 million shares, down 30.27% from 106mn shares traded in Wednesday’s session.

In terms of sectors, most of the negative contributors were the commercial banks, technology, and oil & gas exploration which negatively contributed 315.97 points. On the flip side, the cement sector closed the session positive, gaining 17 points by the day’s end.

Shares of 92 companies were traded on Thursday, of which 63 recorded a fall, 25 registered an increase, and 4 remain unchanged.

Meanwhile, the volume leaders on the benchmark index were KEL (11.17mn), TRG (7.81mn), NCL (5.95mn), FCCL (3.96mn), and CYNERGY (3.68mn).

The stocks that emerged as net losers during the day included: COLG (2.29%), MARI (1.25%), SRVI (4.33%), PAKT (1.28%), and MTL (1.16%). On the other hand, the scrips which gained the most during the session included LUCK (1.41%), GADT (2.90%), INDU (0.52%), SHEL (2.10%), and POML (1.15%).

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