KSE – 100 lost more than 500 points during the day after rumors of removal of Finance Minister surfaced in the financial sectors. The situation was further worsened by the sit-in at the Federal capital of the country, Islamabad.
Dost Steel closed flat despite announcing it plans to start operation on its plant from mid-December. Furthermore, SAZEW shares closed on the upper lock after it announced it had entered with a Chinese Automobile company to setup a plant for producing four by four vehicles in the country.
Amreli Steel also closed flat as it announced that it is entering in an agreement with a Chinese company to setup a Transmission Line company in Pakistan. The scrip couldn’t benefit from the announcement as index’s tone throughout the day remained bearish.
Sector-wise all share index turnover was led by Technology & Communication (20 million), Engineering (12.73 million), and Textile Composite (8.60 million) stocks, and with Chemical (3.02 million) and Cement (2.78 million) stocks trailing at the bottom.
KSE-100 Index at the day end moved a total of -527.43 points down by 1.29%, closing in at 40316.93 points. Index Volume was at 44.34 million shares, value of shares traded was PKR 1.984 billion with index high-low range of 40910.17 – 40637.15.
The index movement was limited within the 663.04 points range.
8 companies closed up, whereas 79 were down at the day end.
Gainers of the Day
Phillip Morris Pak
Cherat Packaging Ltd.
Feroze 1888 Mills Ltd.
Losers of the Day
National Refinery Ltd.
Murree Brewery Ltd.
Sui Southern Gas Co. Ltd.
Nishat (Chunian) Ltd.
Bank of Punjab
Oil & Gas Development Co.
Sui Northern Gas Pipelines Ltd.