The stock markets witnessed negative sentiments during today’s trading session due to increased scrutiny by SECP ahead of FATF meetings scheduled for mid-September. Confusion over IMF bailout and the upcoming ECC meetings in which the latest gas price hike is expected to be discussed, further weakened the investors’ sentiments.
From a standstill during initial hours with minimal volume at the time, the index diverted towards the bears during the latter part of the day, as the benchmark KSE – 100 Index lost over 350 points. Down by 0.85% from yesterday’s closing value, the 100 – index closed the day’s trading session at 41,266 points.
The 100 – index marched up to an intraday high of 41,715 points and dipped to an intraday low of 41,223 points, thus travelling a range of 491 points. Moreover, a total of 93 scrips were traded within KSE – 100 during the day and the volume of trades has been recorded at 97.3 million shares, while the value locks in at PKR 3.8 billion.
With respect to their stock prices, 20 of these scrips closed today’s session in the positive zone, 70 scrips closed in the negative zone while 3 scrips’ stock prices remained unchanged.
Sector-wise, while Commercial Banks contributed 68 points to the 100 – index, Cement alone stripped the index of 101 points, thereby emerging as the worst performing sector of the day. Oil & Gas Marketing Companies and Fertilizer followed right behind.
In particular, losses on LUCK (-2.73%), DGKC (-4.83%) and NESTLE (-5%) led the index down a negative trail.
The broader KSE All Share Index too shed 290 points during the day to settle at 30,288 points at the session end. The index leaped to an intraday high of 30,618 points and dipped to an intraday low of 30,262 points, traveling within a range of 356 points.
The companies constituting the broader KSE index witnessed a trading activity of 159.7 million shares at PKR 4.9 billion. Of all the scrips traded within the KSE All Share Index, 74 scrips closed the day in the positive while 230 scrips closed the day in negative, based on changes in their stock prices.
Volumes within Karachi Stock Exchange were led by the Commercial Banks today.
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