· Market dipped further by 358pts during the session courtesy of redemption at mutual funds which prompted selling in Banks, E&P, Power, Cement and O&GMCs. Investors preferred switching to Food, Chemical and Power sectors as safe haven. E&P stocks went contrary to the trend of international crude oil prices, which went up overnight. Textile sector also saw selling pressure, partly due to yet another deferral of the most awaited textile policy.
Among scrips, SILK topped the volumes with 42.6M shares, followed UNITY (40.9M) and HUMNL (38.5M).
· The Index closed at 45,677pts as against 45,903pts showing a decline of 226pts (-0.5% DoD). Sectors contributing to the performance include E&P (-62pts), Fertilizer (-47pts), Banks (-45pts), Cement (-30pts) and Technology (-30pts).
· Volumes declined from 491.7mn shares to 476.6mn shares (-3% DoD). Average traded value also declined by 4% to US$ 119.2mn as against US$ 124.2mn.
· Stocks that contributed significantly to the volumes include SILK, UNITY, HUMNL, POWER and TRG, which formed 36% of total volumes.
· Stocks that contributed positively to the index include HBL (+34pts), UNITY (+22pts), MARI (+9pts), PAKT (+7pts) and APL (+6pts). Stocks that contributed negatively include OGDC (-34pts), HUBC (-32pts), ENGRO (-29pts), MCB (-24pts) and PPL (-22pts).