Daily Times

KARACHI: The KSE-100 Index remained negative throughout the session on Friday mostly due to bears in cement companies. The index closed at 46,071.86 after losing 259.85 points.

Market witnessed dull trading activity as uncertainties surrounding upcoming federal budget amidst resistance from opposition parties and hearings of key political cases in the Supreme Court hurt investor sentiments.

Lucky Cement losing 2.47 percent, Power Cement losing 1.62 percent and Thal Cement losing 1.95 percent retreated on account of fears of decline in cement prices by Pakistani Rupee 20/bag in the South; however, managements of different players confirmed that prices have not changed.

Fertilizer companies like Fauji Fertlizer Company (FFC) losing 0.21 percent, Fauji Fertiliser Bin Qasim (FFBL) gaining 1.14 percent , Engro Fertiliser gaining 0.23 percent and FATIMA Fertilizer losing 0.56 percent showed mixed performance due to the news that Finance Ministry has proposed Rs 5 billion subsidy for imported cement. In all, 197 million shares worth Rs8.75 billion were traded at the exchange. Of the 349 traded scrips, 133 advanced, 200 declined and 16 remained unchanged.

The power generation and distribution sector dominated trading with over 38.7m shares traded.

Traded volumes fell by 40 percent day-on-day (DoD) to 197 million shares as against 333 million shares traded previous day while value traded decreased to Rs 8 billion from RS 10 billion. Top volume stocks were KEL with 36 million turnover, Engro polymer Chemical limited (EPCL) with 10.8 million turnover and Pakistan International Airlines (PIAA) with 10.5 million turnover.

Published in Daily Times, April 14^th 2018.