Politics continues to take its toll on the market, as the NAB Court proceedings against the Sharif family have taken the wind out of the political sails of the country. The NAB court has fixed Oct 13 for indictment of Nawaz Sharif, his daughter Maryam Nawaz and son-in-law Muhammad Safdar in graft references. Furthermore, the accountability declared Nawaz Sharif’s sons – Hussain and Hassan – absconders over their perpetual absence from proceedings. The Index carrying forward the negative sentiment, declined 0.51% during the day.  

Cement was the worst performing sector during the day, with mostly all of the companies closing the session in red. KOHC -0.83%, FCCL -2.39%, PIOC -2.41% and LUCK -1.37%, were all down at the day end. Following Cement was the Fertilizer Sector with FATIMA closing at -2.67% during the day.

Textile Composite was also negative at day end, with KTML and NML both loosing -3.77% 3.84% respectively.

Commercial Banks was the top performing sector during the day, with ABL +0.29%, HMB +0.91%, MCB +0.16%, UBL +0.78% and HBL +0.78% all closing positive at the day end.

Shifa International Hospital SHFA -5.00% broke the lower circuit to close at the lowest levels.

KSE-100 Index at the day end lost a total of -212.60 points down by 0.51%, closing at 41099.99 points. Index Volume was 52.18 million shares, value of shares traded was PKR 4.952 billion with index low-high range of 41004.66 – 41336.43.

Khyber Tobacco Co. Ltd. reported an EPS of Rs. 158.04 for the reported period with a 35.48% increase in Net Turnover clocking in at Rs. 1.02 billion. Company’s Profit for the period increased by 173% during the period, reaching 190 million up from 67 million

25 companies closed up, whereas 62 were down at the day end.