Closing bell: KSE-100 index continues to linger in a heedless state

October 02, 2018 (MLN): The stock market unabashedly continues to be in a heedless state as investors await clarity on a potential bailout package from the International Monetary Policy (IMF) to revive the economy. Furthermore, even the plunge in current account deficit for August 2018 has failed to entice the market.

Trading kicked off on a positive note in the early hours of the day as the index continued to bear highly volatile activity. The KSE-100 index shed 129 points by the day end, ultimately settling at 40,800 points.

The stocks of Commercial banks (down by 140 points) largely influenced the index following the raise in policy rate by the Central Bank for the fourth time since January.

The losses on HBL (-1.82%), PAKT (-4.99%), UBL (-1.23%) and MCB (-1.10%) brought most of the volatility on the index.

Within a range of 474 points, the market travelled to an intraday high of 41,214 points and an intraday low of 40,739 points.  With respect to volume, around 64 million shares of the companies listed on KSE-100 were traded with a worth of around Rs. 4.4 billion.

Correspondingly, the broader KSE All Share lost 144 points by the day end, closing in at 29,776 points. An intraday high of 30,084 points was recorded for the KSE All Share index, while the intraday low sunk to 29,754 points today.

Over 106 million shares of the scrips listed within the broader KSE All Share Index were traded today, with its value recorded at Rs.5.3 billion.

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