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Pakistan’s equity market; A house of cards

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April 16, 2019 (MLN): Following a bullish session yesterday, the KSE-100 index ended second day of the week on a lackluster note by landing in  red zone. After shedding 122 points, the index closed today’s trading session at 37,382 points, marking a  negative growth of 0.33% from previous session’s closing. Absence of positive triggers resulted in selling pressure for investors.

Major sectors comprising of Commercial Banks and Oil & Gas Exploration Companies endured most of the pressure as the combined losses from these sectors amounted to 61 points. The scrips of MCB(-1.04%), POL (-1.24%), PMPK (-5%) and ISL (-4.96%) suffered the maximum losses.

Bounded within a range of 296 points, the index travelled between an intraday high of 37,635 points and an intraday low of 37,339 points. Nearly 95 million shares were traded today for the scrips listed on the benchmark index with their total value recorded at Rs 4.2 billion.

The KSE All Share index exhibited a similar stance by losing around 110 points by the day end and closing at 27,387 points.

The broader share index traded nearly 140 million shares today, with their value recorded at Rs 4.7 billion.

Total 306 companies’ transacted shares in the Stock Market today, out of which 132 recorded gains and 154 sustained losses whereas the share price of 20 companies remained unchanged.

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Posted on: 2019-04-16T17:45:00+05:00

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