KSE-100 index witnessed a volatile session

· On the MSCI rebalancing day, KSE-100 index witnessed a volatile session as it made a dicey move of more than 1,000 points, making a close above 45,000 points benchmark. E&P sector stayed in the limelight as Government is considering a scheme to reduce the stock of the circular debt by declaring dividends for the shareholders of energy sector companies. In the last two trading hours, Institutional investors accumulated across the board as it was the last opportunity to catch foreign selling spree due to the transition from emerging to frontier market. Main board stocks witnessed hefty volumes today.

· The Index closed at 45,072 pts as against 45,330 pts showing a decrease of 257.7pts (-0.57% DoD). Sectors contributing to the performance include Commercial Banks (-160pts), Fertilizer (-78pts), Inv. Banks (-18.3pts), FMCG (-16.2pts) and Textile Composite (-12.8pts).

· Volumes increased from 268.2mn shares to 411.5mn shares (+53.4% DoD). Traded value increased by 219.4% to reach US$ 198.2mn as against US$ 52.0mn.

· Stocks that contributed significantly to the volumes include HBL, FNEL, UBL, TRG and MCB.

Courtesy – AHL

Share:
Posted in Article & Features.

Leave a Reply

Your email address will not be published. Required fields are marked *