Daily Stock Report: Bears Rule as Index Drops to 51,511 Points

KSE-100 index continued to lose points on Wednesday as the benchmark index lost 301 points (- 0.58%) to close at 51511.41 points.

The index opened in green in the first hour of trading though it couldn’t sustain it as KSE-100 index dipped by more than -369 points on the intraday trading.

Overall, volumes plunged to 107 million shares in KSE-100 index.

Technology and Communication was the top traded sector with total traded volume of 59,889,500 shares. It was followed by Engineering, with a total traded volume of 48,493,900 shares, and Chemical sector, with a total traded volume of 47,112,270.

Top contributors to KSE-100 were:

Leaders:

  • ISL
  • DWAH
  • MTL
  • SEARL
  • ENGRO

Laggers:

  • MCB
  • HBL
  • HUBC
  • AICL
  • UBL

Shares of 396 companies were traded. At the end of the day, 184 stocks closed higher, 189 declined while 23 remained unchanged.

World Call Telecom was the volume leader with 38.90 million shares, gaining Rs 0.27 to close at 3.20. It was followed by Dost Steels Ltd with 25.43 million shares, losing Rs 0.15 to close at Rs 14.82, Lotte Chemical with 20.85 million shares, gaining Rs 0.39 to close at Rs 11.92 and TRG Pak Ltd with 14.38 million shares, gaining Rs 0.40 to close at Rs 57.05.

The top advancers of the market were:

Top decliners of the market were:

Institutional investors opted to square their positions in the overbought market after the Index provider MSCI reclassified Pakistan yesterday.


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