Pakistan Stock Exchange falls 185.83 points

KSE – 100 went through a mixed session today after moving in an up and down trajectory throughout much of the day. Index closed on a negative tone after some companies announced earnings much below expectations, with 185 points down closing at 41409 points.

Index activity was higher than yesterday after session closed early on Wednesday due to a technical error in the IT Department. Market participation for the 100 Index totaled at a volume of 65.89 million with a total value of 5.53 billion.

Oil & Gas Marketing, Commercial Banks and Oil & Gas Exploration Cos. sectors were the top laggards at the day end, cumulatively taking away more than 140 points. Oils and Financials closed in red with former likely tracking dip in global crude. Cements closed mixed on limited institutional interest however Fertilizers generated relatively better activity and closed with modest gains

UBL -14.15, BAFL -12.34, SNGP -8.10, OGDC -18.51 and POL 11.66 dragged the session behind as investors were bombarded with below expectations earnings reports during the day.

Engineering, Commercial Banks, and Textile Composite sectors witnessed most turnover during the day whereas Fertilizer, Chemical, and Oil & Gas Marketing Cos. recorded lowest turnover.

KSE-100 Index at the day end moved a total of -185.83 points down by 0.45%, closing at 41409.49 points. Index Volume was 65.89 million shares, value of shares traded was PKR 5.53 billion with index high-low range of 41475.76 – 41355.45.

The index movement was limited within the 390.31 points range.

35 companies closed up, whereas 56 were down at the day end.