November 5, 2018 (MLN): Having gained substantially at the capital markets for three consecutive sessions, the benchmark 100 – index has snapped back in the red after losing over 500 points at the day end, following an episode of crushed hopes on the Chinese loan front.
Prime Minister Imran Khan went on a five day visit to China, to strengthen bilateral relations with the brotherly country and in hopes of securing a financial assistance package.
However, as the visit approaches conclusion, there has been no news of a support package from China which has resulted in loss of investors’ confidence, as the KSE – 100 index slips notably.
The benchmark index has concluded the first day of the week at 41,493 points (-1.21%), with an intraday high of 42,004 points and an intraday low of 41,033 points. The index oscillated within the range of 970 points.
In total, 145.4 million shares of 92 scrips listed within the 100 – index, were traded today, at PKR 1.97 billion. Of these 92 companies, share prices of 26 companies increased while that of 66 companies dipped, today.
The sectors which drove the index southwards included Commercial Banks (-160 points) and Cement (-122 points).
More specifically, the index heavyweights that weighed down the performance consisted of LUCK (-2.92%), ENGRO (-1.74%), PPL (-1.68%), PAKT (-4.98%) and MCB (-1.7%).
On the other hand, the broader KSE All Share has also lost 403 points and intraday trade, closing the session at 30,059 points (-1.33%).
The intraday high at All Share has been recorded at 30,463 points while intraday low logs in at 29,853 points as the index travels within 610 points.
A trading activity of 213.9 million shares has been witnessed at KSE All Share today, at PKR 9.5 billion
Of all the scrips whose shares were traded today, the share prices of 91 scrips mounted while that of 219 scrips dropped.
