Daily Stock Report: Market Slumps by 462 Pts to Settle at 47,608

The stocks underwent a rollercoaster ride on Wednesday, finishing negative. The benchmark KSE-100 index of the Pakistan Stock Exchange went down from positive 500 down to negative 500. The remained hugely volatile throughout the whole trading session closing in red. It was followed by profit-taking that not only completely wiped all the morning gains.

KSE-100 index fell by 462.40 points, or 0.96 pc by the close of Wednesday’s trading session to reach 47608.64

Oil sector was down by -1.81% and distinguished names in were in red zone by end of the day due to a fall in crude prices worldwide.

The index tested the day’s high at 48601.75 points. The day’s low of 47484.85 came towards market close.

Overall, 255 million shares were traded, While in KSE 100 index volumes surged down to 74 million shares with a total worth of nearly Rs8.21 billion

CEMENT was the top traded sector with total traded volume of 70,931,350 shares. It was followed by COMMERCIAL BANKS with a total traded volume of 41,411,300 shares and ENGINEERING sector with a total traded volume of 35,622,200.

Shares of 373 companies were traded. At the end of the day, 81 Stocks closed higher, 269 declined while 23 remained unchanged.

Power Cement (R) was the volume leader with 59.49 million shares, losing Rs 0.32 to close at Rs 0.21 It was followed by Bank of Punjab (R) with 19.64 million shares, losing Rs 0.20 to close at Rs 0.37, Dost Steels Ltd with 17.59 million shares, losing Rs 1.00 to close at Rs 13.01 and TRG Pak Ltd with 13.60 million shares, losing Rs 2.30 to close at Rs 44.58.

The top advancers of the market were: