Ongoing rift among regulators and brokers kept market in bearish zone. Raid at MQM 90 by rangers and its aftermaths seemed a reason for shrinkage of volume. KSE-100 index nearly lost 334 point in current week. Market took in account trigger like visit of SECP chairman to KSE, IMF appreciating Pakistan for boosting economic triggers, increasing Forex reserves, suspension of drug price freeze law by Sindh high court, chances of increasing gas tariff for April 1st, inaugural of KHI-HYD motorway, increasing remittances by 2% YOY, projection of record consumption of by petrol for march 15 by ministry of petroleum and HBL entering in agreement to acquire Barclay's Pakistan.
The benchmark KSE-100 index was down by 334.57 points to close at 32,929.09 points. KSE All Share Index decreased by 296.44 points to end at 23,418.05, KSE 30-Index decline by 495.47 points to conclude at 21,199.50.
The ready market average volume reduced by 18.01% to 141.56 million shares compared to 172.66 million shares traded on last week. The market capitalization of KSE down by Rs 121.56 billion to Rs 7.356 trillion against Rs 7.478 trillion observed last week.
Pak Elektron remained overall volume leader during the week at 62.97 million shares, down by Rs 1.43 to close at Rs 54.47. Second on the volume leader was Jahangir Siddiqui Company, increased by Rs 0.06 to close at Rs 18.05 by trading nearly 52.35 million shares. Fauji Fertilizer Bin Qasim remained as the third volume leader of the week by trading well over 47.17 million shares declined by Rs 4.94 to close at Rs 51.72. In the past week 366 scrips traded in which 134 scrips advanced, 218 declined while the value of 14 scrips remained intact.
Shezan International and Rafhan Maize remained the top gainer by Rs 114.12 and Rs 65 to close at Rs 1,096.50 and Rs 10,450 respectively, while Unilever Food and Bata Pak were among the major loser which lost Rs 875.90 and Rs 150.18 to close at Rs 9,024.10 and Rs 3,749.99 respectively.
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