The stock market couldn’t sustain its 50,000 level during the last day of the week. It was at its highest level since January 27, 2017 on Monday. KSE-100 recorded a loss of -180.80 points or – 0.37% by the end of the trading session to close at 49300.90 points.
Index had a volatile day and closed in red.
As the initial euphoria surrounding the verdict on Panama case fades, investors hunt for fresh triggers to push the market into uncharted territory. The upcoming Long weekend made a huge impact on the intraday trading session. The Friday factor played its usual role and the market’s participation was further limited.
112 million shares worth Rs. 11.33 billion were traded by the end of the day.
Engineering was the top traded sector with total traded volume of 36,921,900 shares. It was followed by Commercial Banks with a total traded volume of 36,692,200 shares and Chemical sector with a total traded volume of 28,384,200.
Shares of 375 companies were traded. At the end of the day, 142 stocks closed higher, 218 declined while 15 remained unchanged.
Aisha Steel Mill was the volume leader with 29.07 million shares, losing Rs 0.71 to close at Rs 25.37. It was followed by Engro Polymer with 21.73 million shares, losing Rs 0.16 to close at Rs 28.84, TRG Pak Ltd with 15.67 million shares, losing Rs 0.96 to close at Rs 56.81 and K-Electric Ltd with 15.17 million shares, gaining Rs 0.04 to close at Rs 8.05.
The top advancers of the market were:
Top decliners of the market were:
Different financial results of companies made a huge impact, making the market bearish. KSE-100 declined as Earnings Future roll-over lead to profit taking.