April 07, 2022 (MLN): Following the prevailing uncertainty in the country, the domestic equity market witnessed notable selling pressure on Thursday as the benchmark KSE 100 index ended the trading session with a loss of 324.27 points or 0.74 percent decline to close at 43,786.83.

In addition, the gloomy macros including sharp decline in PKR valuation, expectation of slowing economic growth to 4% and accelerating imported inflation have also smashed investors’ confidence in the local bourse.

The Index traded in a range of 600.04 points or 1.36 percent of previous close, showing an intraday high of 44,349.86 and a low of 43,749.82.

Of the 84 traded companies in the KSE100 Index 18 closed up 61 closed down, while 5 remained unchanged. Total volume traded for the index was 69.39 million shares.

Sector wise, the index was let down by Commercial Banks with 105 points, Cement with 55 points, Power Generation & Distribution with 33 points, Oil & Gas Exploration Companies with 31 points and Engineering with 31 points.

The most points taken off the index was by UBL which stripped the index of 53 points followed by HUBC with 32 points, MEBL with 22 points, LUCK with 21 points and EPCL with 18 points.

Sectors propping up the index were Technology & Communication with 9 points, Inv. Banks / Inv. Cos. / Securities Cos. with 8 points, Miscellaneous with 3 points, Oil & Gas Marketing Companies with 2 points and Cable & Electrical Goods with 2 points.

The most points added to the index was by SYS which contributed 17 points followed by DAWH with 9 points, FATIMA with 7 points, FFC with 4 points and PSO with 4 points.

All Share Volume increased by 32.61 million to 141.02 million Shares. Market Cap decreased by Rs39.78 billion.

Total companies traded were 308 compared to 324 from the previous session. Of the scrips traded 93 closed up, 193 closed down while 22 remained unchanged.

Total trades increased by 11,535 to 70,174.

Value Traded increased by 0.71 billion to Rs.4.98 billion

Copyright Mettis Link News

31923