LAHORE: Pakistan market today witnessed its lowest trading activity since July 2014, as investors preferred to remain on the sidelines due to prevailing political uncertainty while year-end slumber took over the market participants. In absence of any triggers, investors adopted a cautious stance to wait out on the resolution of key political issues before taking any fresh position, thereby forcing the market to close lower at 38,383 with 262 points or 0.68 per cent decline. Participation decreased further as volumes were down 64 per cent day on day while traded value shed 71 per cent. Most of the activity was concentrated in the retail favourites with volume chart lead by third-tier stocks.
Top index point decliners were PPL (-1.2 per cent), LUCK (-2 per cent), ENGRO (-1.4 per cent), HBL (-0.7 per cent) & FFC (-1.4 per cent) that withheld 102pts while stocks including FATIMA (+4.9 per cent), COLG (+4.1 per cent), PGF (+5 per cent), EFUG (+3.3 per cent) & BAFL (+1.4 per cent)Â added 56pts.
On the sector front; Cement, E&P and fertilizer sectors cumulatively took away 135.7 pts. On the flip side, Chemical and paperboard sectors added a total of 10.8 pts.
It should be noted here that KSE 100 index fell 1.1 per cent or 434 points last week and 2.3 per cent or 930 points the week before that. That market has been struggling and if these political tensions continue into the next year the results could be disastrous for investors, said senior market analyst while talking to Profit.
He added that the recent rupee depreciation is will reportedly bring foreign investment into the market however the ground reality is that there has been a steep decline in foreign buying over the weeks.
