The domestic equity market kicked off the week on a positive note as the benchmark KSE-100 index hit an intra-day high of 46,139.54 mark but lack of positive triggers succumbed market towards profit booking in the later hours.
Meanwhile, the traders remained cautious as the IMF in its review has slapped six more conditions on Pakistan and cued about the pressurized economic variables. Furthermore, the higher coal prices ($183/MT) and surge in International oil prices ($94/bb) led to a bearish sentiment across the board, a post-market note by Pearl Securities noted.
Accordingly, the benchmark KSE100 index settled the trading session in red with a decline of 68.40 points to close at 45,841.25. Of the 96 traded companies in the KSE100 Index 33 closed up 60 closed down, while 3 remained unchanged. The total volume traded for the index was 77.22 million shares.
Sector-wise, the index was let down by Cement with 45 points, Technology & Communication with 41 points, Commercial Banks with 31 points, Cable & Electrical Goods with 11 points and Pharmaceuticals with 9 points.
The most points taken off the index was by TRG which stripped the index of 38 points followed by LUCK with 15 points, PAEL with 11 points, UBL with 10 points and MLCF with 10 points.
Sectors propping up the index were Oil & Gas Exploration Companies with 58 points, Fertilizer with 22 points, Power Generation & Distribution with 11 points, Inv. Banks / Inv. Cos. / Securities Cos. with 7 points and Textile Composite with 5 points. The most points added to the index was by OGDC which contributed 32 points followed by PPL with 22 points, ENGRO with 16 points, HUBC with 12 points and NBP with 12 points.
All share volume decreased by 42.38 million to 150.10 million shares. Market Cap decreased by Rs18.34 billion. Total companies traded were 362 compared to 360 from the previous session. Of the scrips traded 114 closed up, 227 closed down while 21 remained unchanged.
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