De­clin­ing crude prices force mar­ket close be­low 38K KSE-100 In­dex sees an­other bear­ish ses­sion clos­ing lower by 880 points

The Financial Daily - - FRONT PAGE -

Ghu­lam Raza Ra­jani

KARACHI: Mar­ket car­riedon from where it left the pre­vi­ous day see­ing an­other bear­ish ses­sion. An across the board sell­ing was seen as more than 79 per cent of scrips ended in red zone. De­clin­ing global crude prices kept oil sec­tor un­der pres­sure. For­eign sell­ing too played its role in mar­ket de­cline. Ru­mors of fur­ther ru­pee de­val­u­a­tion forced lo­cal to stay on back­foot this re­sulted in de­pres­sive end of the week.

The bench­mark KSE- 100 in­dex closed lower by 880.37 point to close at 37,517.93 points. KSE All Share In­dex de­creased by 450.57 to end at 27,767.45, KSE 30- In­dex dipped by 510.45 points to con­clude at 18,256.91, whereas KMI 30- In­dex

Se # 3 Page 7 de­clined by 1,852.12 points to fin­ish the day at 63,401.60 level.

The ad­vance to de­cline ra­tio in the broader mar­ket re­mained in fa­vor of bear. Out of 363 scrips, 60 scrips ad­vanced, 288 de­clined while the value of 15 scrips re­mained in­tact.

The ready mar­ket vol­ume in­creased by 0.602 per cent to 135.4150 mil­lion shares as com­pared to 134.6044 mil­lion shares traded on last trad­ing day.

TRG Pak­istan Limited topped the list of ac­tives, low­ered by Rs 1.18 at Rs 22.54 on 10.04 mil­lion shares, fol­lowed by KElec­tric Limited in­creased by Rs 0.10 at Rs 5.21 on 8.86 mil­lion shares and En­gro Poly­mer & chem­i­cal Limited de­clined by Rs 0.75 at Rs

For­eign 29.36 on 8.70 mil­lion shares.

Other ac­tives were Pak­istan Elek­tron Limited de­scended by Rs 1.22 at Rs 23.99 on 4.87 mil­lion shares and Aisha Steel Mills Limited dipped by Rs 0.70 at Rs 10.10 on 4.66 mil­lion shares.

The over­all mar­ket cap­i­tal­iza­tion de­creased by Rs 181.14 bil­lion to Rs 7.705 tril­lion against Rs 7.886 tril­lion ob­served on last trad­ing day.

Rafhan Maize Pak­istan Limited and Mil­lat Trac­tors Limited re­mained the top gainer by Rs 108.00 and 17.29 to close at Rs 7,299.00 and Rs 972.81 re­spec­tively, while Is­land Tex­tile Mills Limited and Bata Pak­istan Limited was the ma­jor loser which lost Rs 86.94 and Rs 65.22 to close at Rs 1,651.94 and Rs 1,640.78 re­spec­tively.

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