LAHORE - Negative sentiments continued to dominate Pakistan stock market as investors did not receive any news on China’s immediate financial support. Resultantly, KSE-100 index closed at 40,959 points, declining by 535 points (1.3 percent). Further regression of the index was restricted on the news that Prime Minister Imran Khan was to address the nation on Tuesday night to brief the country about his China’s visit and to clarify his govt’s stance on the recent protest.
During trading session, FIA director revealed that a majority of Pakistani banks data had been hacked. This coupled with last week’s news that $6m had been stolen through cyber attacks, led commercial banks to chip away 166pts, the highest amongst all sectors on the day.
Market participation improved yesterday as traded volumes rose by 8 percent to 230m, while traded value increased by 1 percent to $73m.
On the same day, Dandot Cement Company (DNCC) announced its 4Q2018 results, posting LPS of Rs3.97 vs LPS of Rs4.28 in the same period last year. This is due to a 31 percent YoY decrease in sales, a 16x YoY rise in other expenses and a 37 percent YoY increase in administration costs.
