Daily Stock Report: Bears Rule as Market Slides to 49,526

The Pakistan Stock Exchange closed in the red as the bears made a return. KSE-100 index fell by -431.41 points, or 0.86 pc, by the close of Friday’s trading session to reach 49526.92.

The index tested the day’s high at 49,961 points. The day’s low of 49478 came towards market close.

Oil sector was down by -1.11% and distinguished names in were in red zone by end of the day due to a fall in crude prices worldwide. Currently crude oil is being traded at $45.48 per barrel. Selling pressure seen in heavyweight sectors of Oil & Gas, Cement and Banking

Overall, volumes plunged down to 208 million shares, While in KSE 100 index 39.35 million shares changed hands with a total worth of nearly Rs 5.25 billion.

CEMENT was the top traded sector with total traded volume 32,003,800 shares. It was followed by CHEMICAL with a total traded volume of 31,467,280 shares and COMMERCIAL BANKS sector with a total traded volume of 28,623,600.

Shares of 350 companies were traded. At the end of the day, 102 stocks closed higher, 226 declined while 22 remained unchanged.

Power Cement (R) was the volume leader with 25.69 million shares, losing Rs 0.39 to close at Rs 1.20. It was followed by Engro Polymer with 18.79 million shares, losing Rs 1.19 to close at Rs 36.90, World Call Telecom with 15.81 million shares, gaining Rs 0.25 to close at Rs 3.51 and Bank of Punjab (R) with 14.90 million shares, losing Rs 0.09 to close at Rs 0.91.

The top advancers of the market were:

The top decliners of the market were:

The time for the book building process for sale of 20 per cent shares in Pakistan Stock Exchange (PSX) had been extended for yet another day. In a statement released on Friday, PSX said the Securities and Exchange Commission of Pakistan had allowed extension in time for book building for another day, which was today. Originally, the bid books were to be kept open for three days, Tuesday, Wednesday and Thursday.