Stocks lose 148 points amid economic uncertainties – Journal

KARACHI: A decline in foreign exchange reserves due to foreign loan repayments along with concerns over rising inflation pushed stock prices into the red zone in the last hour of trading on Friday, according to Arif Habib Ltd.

The stock market opened on a positive note, as the central bank conducted another open market operation for 63 days, which helped banks raise enough liquidity to participate in the next yield-based treasury bill auction. inferior. But trading activity has remained lateral, with investors preferring to trade large volumes of third-tier stocks.

As a result, the KSE-100 index lost 148.52 points or 0.34% to close at 44,118.39 points.

Market participation fell 7.1% to 223.4 million shares while the value of traded shares also fell 8.5% to $ 41.2 million.

The sectors with the most points from the benchmark were technology and communication (60.21 points), chemicals (35.74 points), cement (25.45 points), oil exploration and gas (16.84 points) and the refinery (11.39 points).

Stocks that significantly contributed to trading volume included Hum Network Ltd (14.16 million shares), TRG Pakistan (20.58 million shares), TPL Properties Ltd (16.46 million shares), Unity Foods Ltd (9.86 million shares) and TeleCard Ltd (9.69 million shares). ).

Abbott Laboratories Pakistan Ltd (16.67 points), Systems Ltd (15.10 points), Fatima Fertilizer Ltd (10.67 points), MCB Bank Ltd (8.33 points) and The Hub Power Company Ltd (8.01 points ) made a positive contribution to the index.

The stocks that removed the most points from the index are TRG Pakistan Ltd (66.76 points), Colgate-Palmolive Pakistan Ltd (32.77 points), Lucky Cement Ltd (14.55 points), Meezan Bank Ltd ( 13.00 points) and Pakistan Petroleum Ltd. (9.84 points).

The stocks with the largest percentage declines include Colgate-Palmolive Pakistan Ltd, which lost 7.44 percent, followed by TRG Pakistan Ltd (4.78 percent), HBL Growth Fund Ltd (3.43 percent), Avanceon Ltd (2.97 percent) and Pak Suzuki Motor Company Ltd (2.96 pc).

Posted in Dawn, December 25, 2021

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