KARACHI – KSE-100 Index slipping below the 40,000-mark for the first timesince 3rd December 2019.
Foreign investors sold equities worth $9.26 million during the outgoingweek (Feb 3-7, 2020).
On the economic front, Pakistan’s imports contracted by 15.95pc whileexports inched up by 2.13pc during the first seven months of FY20. Thisresulted in the country’s trade deficit narrowing by 28pc.
On a monthly basis, Pakistan’s exports failed to rise in the month ofJanuary, recording a decline of 3.19pc. On the other hand, imports reducedby 9.60pc during the month under review, helping the trade deficit contractby 15pc.
Shedding 947.44 points or -2.36pc, the KSE-100 Index recorded its intradaylow at 39,196.19. The index settled with a loss of 846.93 points at39,296.70. The KMI-30 Index declined by 1,660.97 points or -2.60pc to endat 62,250.69, while the KSE All Share Index decreased by 522.47 points,closing at 27,520.35. Out of the total traded shares, only 38 advancedwhile 276 declined.
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Sectors responsible for the index’s fall included oil & gas exploration(-139.67 points), banking (-124.94 points) and oil & gas marketing (-86.03points). Engro Corporation Limited (ENGRO -53.57 points), Nestle PakistanLimited (NESTLE -47.30 points) and Oil and Gas Development Company Limited(OGDC -44.72 points) dented the index the most.
The overall market volumes fell from the previous session and were recordedat 180.77 million, with Hascol Petroleum Limited (HASCOL -6.00pc), UnityFoods Limited (UNITY -7.11pc) and Maple Leaf Cement Factory Limited (MLCF-2.02pc) leading the volume chart. The scripts had exchanged 15.36 million,11.65 million and 9.62 million shares, respectively.
