Capital markets slide further as benchmark index loses another 253 pts

January 3, 2019 (MLN): Awaiting clarity on the mini budget which should clear the air regarding IMF bailout, the domestic capital markets slid further in today’s session as negative sentiments loomed the trading floors, resulting in thin participation on the investors’ part which stripped the KSE – 100 index of another 253 points and caused the day to close at 37,542 points.

The Oil & Gas Exploration Companies which collectively as a sector, carry a weight of 14.7% in the 100 – index, led the day’s sell-off, causing the index to shed around 103 points.

In particular, shortfall on the scrips of OGDC (-3.36%) and PPL (-2.72%) navigated the benchmark index into red.

As it swung within the range of 554 points, the 100 – index mounted to an intraday high of 37,928 points and dropped to a day low of 37,374 points.

In total, 46 million shares of 89 companies were traded through the day, of which 26 companies recorded an increase in share price while 60 companies recorded a drop.

The value of today’s trade stands at PKR 2.88 billion, short of PKR 2.6 billion from yesterday’s value of PKR 5.24 billion.

On the other hand, the broader KSE All Share has shed 385 points in today’s trade, closing the session at 28,013 points.

The intraday high at broader KSE index was recorded at 28,478 points whereas intraday low logged in at 27,942 points.

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