Pakistan Stock Exchange falls 604 points

After going through an exciting week, index took a plummet in the opposite direction today. Investors booked their profits after a much awaited performance during the last week. Cements were amongst the heaviest affected sectors, as earnings of Pioneer Cement disappointed the investors during early trading hours. Adding to the worries of the cement supplies were partly due to the announcement from Afghan President banning Pakistani cement trucks from Torkham and Spin Boldak borders.

Market participation for the 100 Index declined to 64.06 million shares; down 42.7% on day to day basis. Analysts expect the market to continue upwards despite today’s setback.

ENGRO -86.04, LUCK -63.71, PPL -47.77, OGDC -41.92 and DGKC -38.13 took away most points during the day with cement stocks taking their toll on the index.

Engineering and Oil & Gas Exploration scrips witnessed most turnover during the day as the index volume fell more than 42% to close at 64 million. Subsequently, value traded also fell around 36% closing at 6.3 billion at day end.

KSE-100 Index at the day end moved a total of -604 points down by 1.44%, closing at 41483.54 points. Index Volume was 64.05 million shares, value of shares traded was PKR 6.3 billion with index low-high range of 41414.12 – 42161.54.

The index movement was limited within the 747.68 points range.

20 companies closed up, whereas 67 were down at the day end.