Closing Bell: Political noise looms over KSE-100; loses 345.53 points during the day

The KSE-100 closed negative in today’s session losing 345.33 points at the session close. The index continues to dwindle amidst the political noise echoing throughout the country since last few weeks. Pakistan’s political instability and events have crippled the market throughout 2017 as the index continues to post negative returns.

In corporate alerts, HBL declares a dividend of 3 Rupees and reports and earnings per share of 10.22 Rupees for the period. In addition to that, Pakistan Cables has declared a dividend of 2 Rupees and reported an EPS of 16.81 Rupees.

Engro Foods performance for the half year ended June, 2017 was abysmal; Net Sales for the period decreased by 22 percent, whereas the Profit after Taxation for the Period also decreased 91 percent. The company reported an EPS of 0.24 for the half year and declared no dividends.

Volumes were led by Textile Composite, Technology & Communication, Oil & Gas Marketing Companies, Engineering, Commercial Banks, Refinery, Chemical and Cement.

KSE-100 lost a total of 345.53 points during the day, closing on 45288.49 points. Index touched an intraday high of 45634.02 points whereas fell to a low of 45261.25 points.

Total companies traded in the session amounted to 364 against the yesterday’s last session’s tally of 380 companies. 127 closed positive and 219 closed negative, whereas 18 were unchanged.