KSE – 100 extended declines today as well after breaking the 38000 psychological level to close at 37919. Index went on as low as 37768 points during the intraday trade as investors continue to withdraw participation in the index.
Major hit was taken by the power generation companies, which took a severe blow after Prime Minister directed the Petroleum Ministry to stop importing Furnace Oil citing the environmental worries emanating out of the Furnace Powered plants. After the news broke, almost all of the refinery stocks took a major hit closing on the lower locks: Kot Addu Power KAPCO PA -5%, Attock Refinery ATRL PA – 4.7% and National Refinery NRL PA -5%.
Analysts expect the market to remain negative as the political uncertainty continues to wreak havoc on the future development of the economy.
Sector-wise all share index turnover was led by Technology & Communication (27.53 million), Power Generation & Distribution (13.25 million), Cement (11.567 million) and with Cable & Electrical Goods (3.174 million) and Textile Composite (3.053 million) stocks trailing at the bottom.
KSE-100 Index at the day end moved a total of -464.56 points down by -1.21%, closing in at 37919.42 points with index high-low range of 38443.12 – 37768.25.
KSE – All Share Index Volume was at 108.555 million shares, value of shares traded for all-shares index reached PKR 4.753 billion.
The index movement was limited within the 674.87 points range.
13 companies closed up, whereas 66 were down at the day end.
Gainers of the Day
Colgate – Palmolive Pakistan
United Bank Ltd.
Habib Bank Ltd.
Losers of the Day
National Refinery Ltd.
Jahangir Siddiqui Co. Ltd.
Engro Fertilizer Ltd.
International Steels Ltd.
Bank of Punjab
DG Khan Cement Co. Ltd.
Pioneer Cement Ltd.