Stocks falter as fears of political uncertainty return – Newspaper

by -19 Views

KARACHI: The nationwide inventory trade witnessed range-bound exercise on Friday within the first half of the buying and selling session with the index swinging between optimistic and destructive zones.

In keeping with Topline Securities, the market got here underneath stress within the second half as buyers selected to scale back their publicity earlier than the weekend. Stockholders scaled again their portfolios amid political uncertainty on the native entrance in addition to volatility in worldwide commodity costs on the again of the Russian-Ukraine armed battle, the brokerage stated.

On the finish of buying and selling, the KSE-100 index misplaced 200.29 factors or 0.46 per cent on a day-on-day foundation to shut at 43,653.33 factors.

The buying and selling quantity decreased 45.1pc to 149.3 million shares whereas the traded worth went down 29.7pc to $29.5m on a day-on-day foundation.

Sectors that took away the very best variety of factors from the benchmark index included banking (43 factors), oil and gasoline exploration (41.96 factors), cement (40.09 factors), energy technology and distribution (29.98 factors) and oil and gasoline advertising and marketing (19.5 factors).

Shares contributing considerably to the traded quantity included TPL Properties Ltd (12.27m shares), Pak Elektron Ltd (11.9m shares), TPL Company Ltd (9.39m shares), Unity Meals Ltd (9.04m shares) and Flying Cement Ltd (7.84m shares).

Shares contributing positively to the index included Methods Ltd (77.04 factors), United Financial institution Ltd (10.04 factors), MCB Financial institution Ltd (8.3 factors), Indus Motor Firm Ltd (7.14 factors) and Millat Tractors Ltd (6.65 factors).

Shares that took away the utmost variety of factors from the index included Meezan Financial institution Ltd (47.17 factors), Fortunate Cement Ltd (42.14 factors), The Hub Energy Firm Ltd (29.21 factors), Pakistan Petroleum Ltd (20.19 factors) and TRG Pakistan Ltd (20.02 factors).

See also  Sonny Side of Sports - Voice of America - VOA News

In proportion phrases, shares recording the biggest declines had been Unity Meals Ltd (4.32pc), Kohinoor Textile Mills Ltd (4.1pc), Pak Elektron Ltd (4.01pc), Meezan Financial institution Ltd (3.5pc) and Avanceon Ltd (2.9pc).

Printed in Daybreak, March twelfth, 2022

Leave a Reply

Your email address will not be published.

No More Posts Available.

No more pages to load.