Daily trading volumes increased to 377.707 million shares as compared to 352.804 million Monday. The market capitalization declined by Rs 93 billion to Rs 10.196 trillion. Out of total 397 active scrips, 218 closed in negative, 154 in positive while the value of 25 stocks remained unchanged.
Engro Polymer was the volume leader with 42.403 million shares. It gained Rs 0.30 to close at Rs 31.48 followed by Dost Steel that increased by Rs 0.77 to close at Rs 14.97 with 41.722 million shares. Dewan Motors surged by Rs 2.60 to close at Rs 54.60 with 20.155 million shares. Rafhan Maize and Thal Limited were the top gainers with Rs 50.00 and Rs 27.87, respectively to close at Rs 7,200.00 and Rs 626.86. Sapphire Fiber and Nestle Pakistan were the top losers with Rs 69.82 and Rs 50.00, respectively to close at Rs 1,326.68 and Rs 9,800.00.
Nabeel Haroon at JS Global Capital said that the local bourse remained volatile as the KSE-100 index traded between an intraday high of 459 points and intraday low of 634 points to close at 51,813 level, down 575 points as some profit-taking was witnessed throughout the day. Banking sector led the decline in the market as they cumulatively contributed negative 294 points to the index. HBL (down 3.34 percent), UBL (down 2.62 percent) and MCB (down 3.02 percent) were the major laggards of the aforementioned sector. Profit-taking was witnessed in Fertiliser sector as sector heavy weights, FFC (down 3.28 percent) and FFBL (down 0.67 percent), closed in the red zone. However E&P sector continued its previous day momentum as crude oil prices surged to trade at $49.18/bbl level. POL (up 1.55 percent) and PPL (up 0.55 percent) were the major gainers of the mentioned sector.
Copyright Business Recorder, 2017