Daily Stock Report: KSE-100 Continues to Bleed & Drops 220 Points

Pakistan Stock exchange continues to bleed, with the KSE-100 index losing -220.71 points, or – 0.46%, by the close of the trading session to reach 47356.60 points as all intra-day gains were wiped off as uncertainty over the Panama case verdict kept investors at bay.

Shares of 362 companies were traded. At the end of the day, 118 stocks closed higher, 216 declined while 28 remained unchanged.

Volumes were led by Commercial banks, Cement and Technology & Communication sector. 63.04 million shares were traded by the end of the session, with a total worth of nearly Rs6.20 billion.

Market Highlights (full-day)

  • Volume 63,043,210
  • Value (Rs) 6,203,293,184
  • Per cent change -0.46%
  • Low 47,254.65
  • High 47,634.87
  • Current Index 47,356.60
  • Change -220.71

TRG Pakistan Ltd was the volume leader with 10.98 million shares, losing Rs1.12 to close at Rs47.50. It was followed by Azgard Nine Ltd with 9.74 million shares, losing Rs0.40 to close at Rs12.40 and Bank of Punjab with 6.57 million shares, gaining Rs0.07 to close at Rs13.66.

Major dent came from ICI Pakistan (-2.40%), Packages Ltd (-2.63%), Crescent Steel & Allied Product (-3.07%) ,Engro Chemical (-1.66%) and United Bank Ltd (-2.19%).

Crude oil is currently being traded at $51.49

Global stocks mostly lower as markets await Trump-Xi summit. Global stocks were mostly lower Thursday, as investors nervously watched for market-moving news from the first meeting between President Donald Trump and Chinese leader Xi Jinping.

Wall Street shares reversed a rally and slipped on Wednesday, with the Dow posting its largest intraday downside reversal in 14 months, after the Fed minutes showed the central bank was concerned the stock market may be overvalued.

In Europe, stocks were mostly lower, with Germany’s DAX down around 0.5%, while London’s FTSE 100 slumped 0.6%.

Earlier, in Asia, markets ended mixed, with the Shanghai Composite in China closing up about 0.3%, while Japan’s Nikkei sank 1.5%.