Sell­ing from funds keeps mar­ket un­der pres­sure KSE-100 In­dex sees volatile ses­sion clos­ing lower by 177 points

The Financial Daily - - FRONT PAGE -

Ghu­lam Raza Ra­jani

KARACHI: Mar­ket ob­served an over­all mix to volatile ses­sion as in­dex re­mained in flux. Pos­i­tive clo­sure on pre­vi­ous day as­sisted mar­ket to start in green zone. Pos­i­tiv­ity stayed for short while as in­vestor stayed side­line since MSCI de­ci­sion re­gard­ing ex­clu­sion of ma­jor Pak­istan com­pa­nies seems round the cor­ner.

The bench­mark KSE-100 in­dex closed lower by 176.60 point to close at 41,367.38 points. KSE All Share In­dex de­creased by 114.61 to end at 29,908.35, KSE 30-In­dex dipped by 121.90 points to con­clude at 19,917.61, whereas KMI 30-In­dex de­clined by 348.24 points to fin­ish the day at 71,241.37 level.

Mur­taza Ja­far at Elixir Se­cu­ri­ties said Pak­istan equi- ties closed neg­a­tive to­day with bench­mark KSE100 In­dex set­tling at 41,367 lev­els. Profit tak­ing was wit­nessed in to­day's ses­sion as in­vestors pre­ferred to re­main on side­lines in In­dex names as Pak­istan's del­e­ga­tion leaves for China later to­day to fi­nal­ize modal­i­ties of Chi­nese Eco­nomic sup­port pro­gram while Min­istry of Fi­nance of­fi­cials are cur­rently en­gaged with IMF of­fi­cials in Is­lam­abad. Matco Foods Lim­ited MFL PA +3.3% gar­nered in­vestors in­ter­est af­ter Ad­viser to Prime Min­is­ter on Com­merce, In­dus­try and In­vest­ment claimed that China has agreed to dou­ble its im­ports from Pak­istan - key in­dus­tries of in­ter­est would in­clude agri­cul­ture in ad­di­tion to the tra­di­tional ex­port ori­ented sec­tors of the coun­try. Go­ing for­ward, we ex­pect the sen­ti­ment to shape up once clar­ity emerges on out­come of SBP Gov­er­nor and Sec­re­tary Fi­nance visit over Chi­nese fi­nan­cial pack­age.

The ad­vance to de­cline ra­tio in the broader mar­ket re­mained in fa­vor of bears. Out of 358 scrips, 120 scrips ad­vanced, 219 de­clined while the value of 19 scrips re­mained in­tact.

The ready mar­ket vol­ume de­creased by 18.87 per cent to 224.675 mil­lion shares as com- pared to 276.930 mil­lion shares traded on last trad­ing day.

Bank of Pun­jab topped the list of ac­tives, higher by Rs 0.12 at Rs 13.47 on 31.86 mil­lion shares, fol­lowed by Lotte Chem­i­cal Lim­ited de­creased by Rs 0.12 at Rs 18.74 on 22.52 mil­lion shares and TRG Pak­istan Lim­ited im­proved by Rs 0.58 at Rs 31.98 on 17.19 mil­lion shares.

Newspapers in English

Newspapers from Pakistan

© PressReader. All rights reserved.