The KSE-100 index retreated further today, registering a decline of 233 points (0.5pc) to close at 48305, primarily weighed down by major banks; HBL (-1.3pc), UBL (-3.0pc), and MCB (-0.54pc) which eroded 126 points from the index. Analysts at Topline Securities attribute the decline in the index to a mix of declining crude prices boding adversely on the inflation outlook, along with the industry spillover effects of rumours circulating of negligence leading to a management shake-up.
A total of 114 million shares worth Rs 8.09 billion were traded on the bourse.
A total of 370 companies were traded on the Pakistan Stock Exchange (PSX) of which 131 gained in value, 222 declined and 17 remained unchanged.
K-Electric Ltd was the volume leader with a total of 47.6m shares traded at a closing price of Rs 9.15 registering a loss of Rs 0.44 (4.81pc). This was followed by Aisha Steel Mills with a total traded volume of 11.2m shares closing at a price of Rs 22.60 after a decrease of Rs 0.06 (0.27pc). Power Cement Ltd had a total of 9.63m shares traded at a closing price of Rs 19.08 after a decrease of Rs 0.36 (1.89pc).
