Benchmark index slips beyond 39,000 points in intraday trade

December 05, 2018 (MLN): Persistently rising interest rates and devaluation of Pakistani Rupee has caused the market participants to indulge in excessive selling, resulting in a sharp decline in KSE – 100 index points.

After gaining over 400 points in yesterday’s trade, the benchmarks 100 index has retreated to the red region as of now, following the internationally declining trend and falling below the 39,000 points mark.

The trading floors seem to be in a state of distress as the index loses over 666 points, currently trading at 38,936 points.

The intraday low so far, has been recorded at 38,719 points, while intraday high has peaked at 39,607 points. The index has moved within the range of 887 points.

By now, a total of 82 companies listed within KSE – 100, have suffered a price decline in their shares. Meanwhile, 58.3 million shares have been traded so far, at PKR 3.6 billion.

Losses on sectors such as Commercial Banks and Oil & Gas Explorations Companies have weighed down the KSE – 100 index by nearly 1.7%, at present.

In particular, blue chips such as HBL (-2.17%), OGDC (-2.02%), PPL (-1.73%) and PSO (-3.28%) are driving the index towards losses at present.

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