Daily Stock Report: Bears Strike Back as Market Loses 416 Points

Profit taking was seen after yesterday’s gains amid low activity during the intraday.

The Pakistan Stock Exchange (PSX) also saw a bearish activity on Thursday, with the benchmark KSE-100 index losing 416.62 points to close at 43,679.87 points.

The KSE-100 index opened in green a saw slight increase of +55 points which was intraday high and saw a loss of 467 points today.

Selling pressure was seen in the Steel and Cement sector whereas the oil and exploratory was down because of the recent decline in International Oil prices.

Top five index detractors were PPL – 54.91 points, MCB -46.86 points, DGKC -33.16 points, OGDC -31.62 points and HBL -27.72 points.

Major gainers of the marker were NBP + 15.57 points, ENGRO +13.46 points, EFERT +13.35 and SNGP + 11.02 points.

All shares index had a traded volume of 246.01 million shares today. Overall, stocks of 360 companies were traded on the exchange, of which 118 gained in value, 224 declined and 18 remained unchanged.  In KSE 100, 96.62 million shares were traded with a net worth of just Rs 6.31 billion.

Top traded sectors:
Bank of Punjab was the volume leader with 16.59  million shares, losing Rs0.43 to close at Rs 9.72. It was followed by Fauji Foods Ltd with 16.15 million shares, gaining Rs1.09 to close at Rs23.06, Unity Foods Ltd with 14.11 million shares, gaining Rs1.30 to close at Rs28.44 and TRG Pak Ltd with 13.29 million losing Rs1.25 to close at Rs37.36

Top Advancers of the market were:

Top decliners of the market were:

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