Daily Stock Report: Market Remains in the Red to Lose 192 Points

The market remained in the red zone for the second consecutive day. At close, the benchmark KSE 100-share Index registered a loss of 191.86 points or 0.46% to finish at 41,291.68 points.

Huge selling pressure was seen today as well over the political uncertainty.

The market went down to an intraday low of -570 points today as selling pressure was seen among the investors. The financial results of different companies were also released which motivated the investors to buy.

As a result, the market made a recovery and closed at just -191.86 points as some buying was seen in the last few hours of the trading session.

Only the Oil sector was up because of the surge in International Oil prices.

Oil prices took the graph up on Tuesday supported on the back of declining exports from Southern Iraq. The output in the Southern region has been affected by the escalating geopolitical tensions in the region.

Southern Iraqi exports have fallen more than 100,000 barrels per day in the ongoing month. Adding to the drops in flows form the Northern Iraqi region of Kirkuk, which was recently took over by Iraqi forces after the region declared self-styled independence.

London Brent crude for December delivery was up 6 cents at $57.43 a barrel and WTI crude oil was trading at $52.22 or + 0.62%.

Fatima Fertilizer Co. Ltd. Sales for the period increased by 14%, amounting to a total of 26 billion Rupees for the period ended September, 2017 Company’s distribution costs went up by around 63% during the period under review.

The Profit after tax for the period surged by 4.8% reaching 6.67 billion vs previous year’s profit of 6.37 billion Rupees. The company’s earnings per share reached 3.18 rupee.

All shares index had a traded volume of just 143 million shares Overall, stocks of 334 companies were traded on the exchange, of which 119 gained in value, 203 declined and 12 remained unchanged. In KSE 100 64 million shares were traded with a net worth of just Rs. 5.11 billion.

Top traded sectors:

TRG Pak Ltd was the volume leader with 19.76 million shares gaining Rs. 0.58 to close at Rs. 35.80. It was followed by Aisha Steel Mill with a turnover of 15.64 million shares, gaining Rs. 0.87 to close at Rs. 20.00, Dost Steel Ltd with 7.89 million shares, losing Rs. 0.09 to close at Rs. 13.64 and Engro Polymer Ltd 6.75 million shares, gaining Rs. 0.07 to close at Rs. 35.54.

Top Advancers of the market were:

Top Decliners of the market were: