Closing Bell: KSE-100 closes at 45634.02, sheds 364.79 points

The KSE-100 closed negative in today’s session after gaining more than 200 points in the first hour. However, it did not find any support on the downward trajectory and continued to fall thereon closing in red.

In corporate alerts, K-Electric approves development of 900MW RLNG Plant at Bin Qasim Power Station Complex (BQPS-III) pending the agreement pending with NEPRA.

Furthermore, KAPCO announced that it is considering a bid to acquire up to 14.91% of HUBCO stake being divested by Dawood Hercules Corporation.

In addition to K-Electric, Pak Elektron declared a DPS of Rs. 1.50 per share and reports an EPS of 2.00 and EFG Hermes also announced the results reporting an EPS of 1.84 per share for the year ended June 30, 2017

Volumes were led by Engineering, Commercial Banks, Power, Oil & Gas OMC and Technology & Communications.

KSE-100 lost a total of 364.79 points during the day, closing on 45634.02 points. Index touched an intraday high of 46213.14 points whereas fell to a low of 45572.11 points.

Total companies traded in the session amounted to 380 against the yesterday’s last session’s tally of 386 companies. 81 closed positive and 277 closed negative, whereas 22 were unchanged.