The benchmark KSE-100 index plummeted by 647.89 points- a 1.46 percent drop on Monday, as bears remained dominant at the domestic capital market as it closed at 43,829.35 level.

As worries pertaining to an upward risk in inflation along with soaring energy and commodity prices aggravate, the negative sentiment prevailed across the board.

A closing note by Aba Ali Habib Securities mentions that the local technology sector was weighed down as a result of the proposals regarding the implementation of a minimum global tax on tech companies was presented on an international forum.  

In addition to that, as coal prices surge, the cement sector continued to put downward pressure on the index.

17 out of the 94 companies traded on the Kse100 closed up and 74 closed down. The remaining 3 companies stayed unchanged. A total volume of 88.78 million shares was traded on the index.

In terms of sectors, the index was dragged down by Technology & Communication with 202 points, Cement with 121 points, Commercial Banks with 56 points, Engineering with 49 points, and Food & Personal Care Products with 44 points.

TRG took the largest number of points off of the index by 119 points followed by SYS with 68 points, LUCK with 26 points, FFC with 25 points, and UNITY with 25 points.

Sectors that performed well at the index include Oil & Gas Exploration Companies with 15 points and Chemical with 8 points.

PPL led the charge by contributing 21 points to the index followed by COLG with 9 points, HUBC with 8 points, ABL with 7 points, and FML with 7 points.

All Share Volume rose by 50.51 million to 226.58 million Shares. Market Cap dropped by Rs.108.16 billion.

Total companies traded were 548 in comparison to 550 during the last session. Amongst the scrips traded 61 closed up, 470 closed down while 17 remained unchanged.

Total trades improved by 19,512 to 94,242. Value Traded rose by 1.43 billion to Rs.8.27 billion.

The top ten companies by volume traded are Worldcall Telecom (41,362,500), Telecard (13,891,000), Treet Corporation (9,376,500),  Hum Network (8,366,500), TRG Pakistan (7,126,974), TPL Corp (6,207,500), Unity Foods (5,947,593), Byco Petroleum Pakistan (5,520,000), Ghani Global Holdings (5,279,000) and Engro Fertilizers (5,167,631).

 The top ten sectors by volume traded are as following: Technology & Communication (82,565,274), Food & Personal Care Products    (19,790,513), Commercial Banks (15,777,357), Cement(11,980,947), Inv. Banks / Inv. Cos. / Securities Cos. (11,153,261), Fertilizer (10,494,618), Chemical (8,607,470), Textile Composite (7,744,000), Oil & Gas Marketing Companies ( 7,431,458), Refinery (7,034,910).

The story was filed by the News Desk.
The Desk can be reached at info@thecorrespondent.com.pk.

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