Intraday Report: Bearish trend continues as KSE-100 loses over 650pts

January 16, 2024 (MLN): The benchmark KSE-100 index extended its downslide on Tuesday, shedding 653.56 points or 1.02% to trade at 63,615.81 [11:05am PST].

The index has seen a trading volume of 97.28 million shares.

This was the second consecutive day in red for the index, which fell by 368 points or 0.57% on Monday.

KSE-100 index is being let down by Oil & Gas Exploration Companies with 177.83, Commercial Banks with 75.68, Oil & Gas Marketing Companies with 58.25, Power Generation & Distribution with 54.43, and Fertilizer with 45.43 points.

Companies dragging the index are PPL with 93.64, OGDC with 69.16, HUBC with 49.62, MTL with 31.4, and MCB with 28 points.

In the broader market, the All-Share index is at 43,023.31 with a net loss of 420.19 points.

To note, the KSE-100 has gained 22,163 points or 53.47% during the fiscal year, whereas the ongoing calendar year has witnessed a cumulative increase of 1,165 points, equivalent to 1.87%.

Copyright Mettis Link News