PSX: KSE 100 Index dropped further as share volume hit 6 month low

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Pakistan Stock Exchange or PSX declined again as KSE 100 Index dropped again.

KSE 100 Index dropped by 0.77% or 295.81 points and reached at 38,011.63 points. The stock market has seen a dull trend as the index decreased amid the political and economic concerns.

The share volume was also dropped by 43% to over the 6 month minimum turnover at the 83.7m shares. In addition, the traded value is also reached at Rs 3.99 bn after declining by 42%.

Sui Northern Gas Company and Sui Southern gas pipelines hit their lower circuits after PM Imran Khan sacked their governing body. The opinions were spoilt further by Moody’s report that evaluated GDP to back off to 4.3% to 4.7% in FY19 and FY20, separately.

Exploration and generation, power, oil and gas advertising organizations, fertilizer and energy areas were significant slow pokes where Pakistan Oilfields lowered by 2%, Engro Fertilizer 1.2%, Fauji Fertilizer Bin Qasim 4%, Pakistan Petroleum 2.2%, Oil and Gas Development Company 0.6%, and Dawood Hercules 0.9% of total points.

However, some companies also seen positive trend. Kohinoor Textile Mills raised 10 points,  Engro Corporation 15 points, National Bank 11 points, Abbott Pakistan 11 points, Habib Metro 21 points.

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