December 13, 2018 (MLN): The KSE 100 index lost nearly 295 points by the end of today’s trading session, and concluded at 38,011 points. Bearish sentiments within investors were aided by increasing external vulnerabilities to the domestic economy, shortage of natural gas and resurging political turbulences.
Investors’ sentiments were further deteriorated by Moody’s report which maintained Pakistan’s sovereign rating to –B3. The report also estimated GDP to slow down to 4.3% to 4.7% in FY19 and FY20 respectively.
Foreign trade flow, due to anticipation of FTSE rebalancing next week, also caused the institutional money managers to balance their portfolios now, as against the month end activity where they need to keep cash positions handy.
Sector-wise, OMCs sector remained under pressure as the twin gas companies warned of gas supply shortage in coming days.
Among the index heavy weights, the scrips of PAKT (-4.48%), PPL (-1.09%), POL (-1.64%) and HUBC (-1.51%) faced most of the losses as market went down by 0.77%.
Throughout the day, the index moved between an intraday high of 39,464 points and an intraday low of 37,767 points, recording a range of 697 points, Around 57 million shares traded today for the scrips listed on the benchmark index with their total value recorded at Rs 3.1 billion.
Likewise, the KSE All share lost around 164 points by the day end and closed in at 28,019 points.
An intraday high of 28,288 points and an intraday low of 27,796 points was recorded by the day end for the all share index with a range of 492 points.
Over 84 million shares of the scrips listed within the broader KSE All Share Index were traded today, with their value recorded at Rs 3.9 billion.
While the share price of 95 companies went up and 190 companies went down, the prices of 25 companies however remained unchanged
