Bears weigh in as the 100 index down 197 points

The first session of the week within KSE - 100 opened in the negative zone, attempting to reach higher during the initial few minutes before crashing lower. The index remains range-bound as it trades in a sideways manner.

The index has shed 197 points and is currently trading at 42,644 points. The companies registered at KSE - 100 have traded around 40% of previous session's total trade volume. The shares traded so far are recorded at 59.8 million at a value worth PKR 4.1 billion.

Oscillating between a range of 259 points, the 100 - index touched an intraday high of 42,857 points and dropped to a low of 42,598 points.

Sector-wise, Commercial Banks alone have stripped the index of 95 points, so far, thereby steering it towards the negative direction. On the other hand, Oil & Gas Marketing Companies are trying to compensate having contributed 35 points to the index, as of now.

On the other hand, the broader KSE All share has lost 103 points and is presently trading at 30,841 points. The intraday high has reached 30,983 points while the low touches 30,819 points.

A trading activity of 112.9 million shares has been witnessed by the companies within KSE All Share, traded at a value of PKR 5.3 billion.

Among its’ constituents, PSO has come out as the top gainer within the Karachi Stock Exchange as a result of the year end earnings report issued earlier today, which revealed that the company’s earnings exceeded investors' expectations despite reporting a 15% decrease in its profits.

Rafhan Maize Products Limited is currently trading amongst the net losers, having lost Rs.402 while Pak Elektron has traded the largest number of shares (12.5 million) and is leading the Volume as of now.