Daily Stock Report: Market Suffers Bearish Spell with Loss of 277 Pts

The KSE-100 Index came under heavy selling pressure on Tuesday, plunging 708 points in intra-day trading down of 1.6 per cent– as concerns over Pakistan’s inclusion in the global terror watch list by the Financial Action Task Force (FATF) continued to dent investor confidence.

The market lost more than 700 points with very low and dull trading activity.

However cherry-picking at attractive valuations, however, helped it close on the 43294.95 mark by the end of the day.

The benchmark index was closed with a loss of -277.72 points or -0.64% to close 43294.95 points, as the market recovered.

Some decent companies announcements were in the line today as well, which failed to boost the investor sentiments.

Investors did not pay heed to the $0.23 rise in WTI oil prices, which have touched $61.80 per barrel.

Political concerns are peaking ahead of the general elections. The National Accountability Bureau is said to conclude its cases. Investors have all this mind.

All shares index had a traded volume of 169 million shares today. Overall, stocks of 352 companies were traded on the exchange, of which 114 gained in value, 222 declined and 16 remained unchanged. In KSE 100, just 68.89 million shares were traded with a net worth of just Rs 5.54 billion.

Top traded sectors:

Dewan Cement was the volume leader with 14.09 million shares, gaining Rs0.99 to close at Rs 26.89. It was followed by TRG Pak Ltd with 13.84 million shares, gaining Rs0.93 to close at Rs36.29, Azgard Nine with 10.91 million shares, losing Rs1.00 to close at Rs19.51 and Fauji Foods Ltd with 8.81 million gaining Rs0.10 to close at Rs27.57.

Top Gainers of the Market were:

Top Decliners of the Market were: