· Incumbent government’s defeat at Senate elections trumped KSE100 index, which dropped 1073pts on the opening bell. Recovery ensued in the expectation of Vote of Confidence by Prime Minister, which brought the index from -1073pts to ~-350pts during the session. Selling was observed across the board. By mid-day, prospects of redemption at Mutual Funds’ end brought the Index under pressure again, continuing till end of session that saw market taking a double dip to end -882pts (unadjusted). Among scrips, KEL led the table with 33.1M shares, followed by GGL (28.6M) and TRG (25.8M).

· The Index closed at 45,279pts as against 46,161pts showing a decline of 882pts (-1.9% DoD). Sectors contributing to the performance include Cement (-167pts), Banks (-142pts), E&P (-71pts), Fertilizer (-71pts) and Power (-60pts).

· Volumes increased from 403.6mn shares to 441.3mn shares (+9% DoD). Average traded value on the contrary declined by 10% to reach US$ 135mn as against US$ 149.5mn.

· Stocks that contributed significantly to the volumes include KEL, GGL, TRG, BYCO and WTL, which formed 29% of total volumes.

· Stocks that contributed positively to the index include COLG (+22pts), GATI (+2pts), NESTLE (+1pts), INDU (+0pts) and FHAM (+0pts). Stocks that contributed negatively include LUCK (-67pts), TRG (-53pts), HBL (-35pts), HUBC (-34pts) and UBL (-31pts).

Courtesy – AHL