LAHORE: The Pakistan Stock Exchange (PSX) lacked volumes the country’s political scene remains unstable. Volumes dipped lowest in months and indices bled as investors focused on their television screens, to watch the former prime minister appear before the National Accountability Bureau, rather than the trade screens.
The benchmark KSE 100 index fell as low as 41,944.37 with a loss of 464.90 points, before settling the day with a loss of 390.37 points at 42,018.90. Though sentiments around international crude oil prices look positive, the KMI 30 index shed 660.56 points to reach 70,782.10. The KSE All Share Index was at a loss of 233.31 points at 30,162.40.
The KSE 100 index hovered around the lowest in 52-week of 41,944.37, a difference of mere 74 points to be precise. The other two indices are no different, KMI 30 index away 124 points and KSE All Share index at a distance of 41 points only.
The market volumes declined to 88.88 million with only 41.23 million shares traded in the KSE 100 index scripts. Chakwal Spinning Mills Limited (CWSM -7.74%) was top traded with 5.61 million shares exchanged on the table followed by TRG Pakistan Limited (TRG 0.35%), volume 5.58 million. Nishat (Chunian) Limited (NCL +4.99%), volume 4.64 million, was next which traded against the market flow and hit the upper circuit breaker.
All large sectors were engulfed in red. The commercial bank sector laid off 1.86% from its market capitalization during the session as MCB Bank Limited (MCB) came down 2.87%, United Bank Limited (UBL) declined 1.67% and Habib Bank Limited (HBL) inched lower by 2.57%.
Chemical Sector laid off 1.69% from its market cap as I.C.I Pakistan Limited (ICI) was down 4.65%. Cement sector chopped 1.66% off its market capitalization. Lucky Cement Limited (LUCK) lost 2.71%, Bestway Cement Limited (BWCL -0.91%) and D. G. Khan Cement Company Limited (DGKC -0.04%).
