·        The market remained under pressure as investors remained stagnant over expectations of an adverse budget announcement. The KSE-100 plunged to 354 points as selling pressure was witnessed across the board as concerns over increasing inflation kept the investors at bay. Main board activities remained dull on the contrary hefty volumes were observed in the 3rd tier stocks.

·        The Index closed at 42,756.04pts, down by 322.10pts (-0.75% DOD). Sectors contributing to the performance include Power (-67.8pts), Banks (-65.7pts), Cement (-55.2pts), Technology (-41.1pts) and E&P’s (-32.4pts).

·        Volumes decreased from 285.3mn shares to 194.4mn shares (-31.9% DOD). Average traded value also decreased by 27.6% to reach US$ 27.0mn as against US$ 37.3mn.

·        Stocks that contributed significantly to the volumes are SILK, UNITY, GGL, PRL and FFL.

Courtesy – AHL