Pakistan stock market falls today:AHL

Market shed 625pts during the session today on the back of global rout in capital as well as commodity markets. US and regional markets saw Stock Indexes tumbling 4% to 7% and similar attrition was observed in international crude oil prices, which dampened the investors’ sentiment in pre-budget market session. Investors in general resorted to profit booking, considering a nominal ascend seen so far in the Index on Budget releases. Chemical and Textile sector stocks still showed investor interest, though the aggression was absent. Cement sector led the volumes with 30.9M shares, followed by Textile (18.5M) and Technology (17.9M). Among scrips, ANL topped the volumes with 12.7M, followed by MLCF (11.4M) and UNITY (10.8M).

· The Index closed at 34,611pts as against 35,129pts showing a decline of 517pts (-1.5% DoD). Sectors contributing to the performance include Banks (-180pts), E&P (-122pts), Power (-35pts), Fertilizer (-30pts) and Technology (-22pts).

· Volumes declined from 270.6mn shares to 177.9mn shares (-34% DoD). Average traded value also declined by 27% to reach US$ 38.4mn as against US$ 52.6mn.

· Stocks that contributed significantly to the volumes include ANL, MLCF, UNITY, HASCOL and TRG, which formed 29% of total volumes.

· Stocks that contributed positively to the index include ANL (+8pts), NESTLE (+6pts), PIOC (+5pts), FFC (+4pts) and JLICL (+2pts). Stocks that contributed negatively include OGDC (-50pts), HBL (-47pts), MCB (-45pts), PPL (-44pts), and UBL (-31pts)

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