Bears dominate as 100 Index closes in red yet again

Pakistan’s benchmark KSE – 100 Index today closed the session in red yet again after it lost more than 39 points, closing at 42459 level. Despite the turbulence on the political front, index managed to open the day on a relatively positive note in the morning as it gained more than 100 points in the first fifteen minutes at the open.

However, the index was rocked by MSCI semiannual review news in the first half hour. In the semiannual review held in Geneva earlier today, the MSCI review resulted in deletion of three Pakistani securities and no new additions.

Index is expected to rebound in the coming session as per the analysts on the street, as activity in the blue chips increased significantly today.

Volume traded at KSE – 100 index increased by 14.19 percent during the session after total volume clocked in at 111.309 million versus 97.468 million yesterday.

Food and Personal Care Products, Tobacco and Auto assembler Sector’s companies during today’s session were at the bottom today after collectively taking away more than 106 points.

Sector-wise all share index top sector turnover was led by Commercial Banks (20.527 million), Chemical (14.522 million), and Cement (40.978 million).

KSE - 100 Index at the day end moved a total of -39.33 points down 0.09 percent, closing in at 42,459.53 with index high – low range of 42,608.08 – 41,845.31.

KSE – All Share Index Volume was at 181.059 million shares, the value of shares traded for all-shares index reached PKR 8.731 billion.

The index moved in the range of 762.77 points.

49 companies closed up, whereas 39 were down at the day end.