PSX-Dip-turns-into-a-crash-Kse-100-index-plummets-over-2100-points

Pakistan Stock Market (PSX) witnessed selling pressure on the back of political uncertainty and lack of triggers amid the start of roll-over week.

On the corporate front, ICI Pakistan notified the exchange regarding public announcement of intention to acquire approximately 75.01% shareholding of Lotte Chemical Pakistan Limited (LOTCHEM), resultantly LOTCHEM closed at its upper circuit, a note by Topline Securities said.

Accordingly, the benchmark KSE-100 index ended the trading session on Monday with 233 points or 0.58% decline to close at 39,844 points.

The index remained negative throughout the session touching an intraday low of 39,721.

Of the 89 traded companies in the KSE-100 index, 27 closed up, 56 closed down, while six remained unchanged. Total volume traded for the index was 36.36 million shares.

Sector wise, the index was let down by Commercial Banks with 110 points, Fertilizer with 37 points, Technology & Communication with 28 points, Inv. Banks / Inv. Cos. / Securities Cos. with 19 points and Power Generation & Distribution with 18 points.

The most points taken off the index was by BAHL which stripped the index of 35 points followed by UBL with 24 points, SYS with 23 points, ENGRO with 22 points and HBL with 20 points.

Sectors propping up the index were Chemical with 13 points, Food & Personal Care Products with 3 points, Insurance with 1 points and Engineering with 1 points.

The most points added to the index was by LOTCHEM which contributed 16 points followed by MARI with 16 points, EFERT with 12 points, KOHC with 8 points and UNITY with 7 points.

All Share Volume decreased by 95.84 million to 75.43mn Shares. Market Cap decreased by Rs.20.18 billion.

Total companies traded were 289 compared to 317 from the previous session. Of the scrips traded 109 closed up, 160 closed down while 20 remained unchanged.

Total trades decreased by 43,437 to 47,616.

Value traded decreased by Rs2.90bn to Rs1.83bn.

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