KARACHI: The Pakistan Stock Exchange (PSX) Wednesday opened negative shedding 82 points to reach 40862 points level in early trading.
On Tuesday, another dull session was witnessed at the PSX as the benchmark KSE-100 index, after trading between an intra-day high of 77 points and intra-day low of 340 points, closed 296 points down at 40,944 points.
Trading at the bourse was underpinned by MSCI’s overnight announcement where the leading index provider ejected Engro Corporation (ENGRO) from MSCI Emerging Markets Index. Resultantly, ENGRO crashed 5% with only 0.66m shares exchanging hands. On the flipside, some respite was perceived on the external front given allowance of $3b borrowing from international debt markets. At close, KSE-100 was down 0.7%; activity improved as volumes rose 60% while value was up 57%.
Worst index point performers were ENGRO (down 5%), OGDC (2.2%), DAWH (5%), MCB (2.1%) & PPL (1.3%), withholding 235 points from the index out of which ENGRO was 85; while HBL (up 1%), HUMNL (4%), NESTLE (1.3%), SEARL (1.3%) & FCCL (1.3%) added 56 points to the index.
Volume leaders during the day were ANL with 18.6m shares, contributing 13% to total market volumes, UNITYR with 14.5m shares traded contributing 10%, and TRG with 8.9m shares traded contributing 6% to total market activity. These three scrips cumulatively generated 30% of total volumes.
Volumes stood at 140m shares as compared to 87mn shares traded previously, while traded value rose to Rs6bn/ $55.5m.
