Tuesday , June 25 2019
Breaking News
Home / Markets / PSX continues to bleed, sheds huge 686pts
PSX continues to bleed, sheds huge 686pts

PSX continues to bleed, sheds huge 686pts

KARACHI: The Pakistan Stock Exchange on Friday continued to bleed and shed huge 686.55 points or -1.81 per cent to close at 37,167.02 points.

In intraday trading, the benchmark KSE 100 index went lower and lower dropping below the 37,000-point threshold to reach 36,918.66 level.

The KMI 30 index lost -2.69 per cent (or 1,695.59 points) during the session closing at 61,443.48. While the KSE All Share index depreciated by 357.12 points ending at 28,001.30. Out of total scripts traded 101 advanced, 189 declined and 12 remained unchanged.

Overall trading volumes improved from 103.73 million in the previous session to 133.40 million. The Bank of Punjab (BOP -2.52 per cent), Lotte Chemical Pakistan Limited (LOTCHEM -4.11 per cent) and K-Electric Limited (KEL -0.50 per cent) most traded stocks of the day. The scripts had 14.26 million shares, 13.24 million shares and 12.41 million shares exchanged respectively.

The National Electric Power Regulatory Authority (NEPRA) approved a reduction in the tariff of Rs0.31 per unit on account of fuel cost adjustment for November 2018. Following the news, the power generation and distribution sector lost 0.67 per cent from its cumulative market capitalization. Hub Power Company Limited (HUBC) was down by 2.36 per cent, Kot Addu Power Company Limited (KAPCO) by -1.02 per cent and Engro Powergen Qadirpur Limited (EPQL) by a 0.66 per cent.

Jauharabad Sugar Mills Limited (JSML +3.12 per cent) announced its financial performance for FY18. The company also declared a final cash dividend of Rs1.00 per share along with its financials. Sales declined by 15 per cent YoY whereas, earnings per share depreciated from Rs2.76 in the same period last year (SPLY) to Rs0.22 in the current year.