KSE 100 Bearish trend during Mid-day Performance

KSE 100 Index is currently trading at 41,663.52 level, having fallen by 247.38 points. Up till now, 20.663 million shares have been traded in the market.

Market has reached an intraday high of 42,136.50 and a low of 41,633.47.

Sectors that are at the bottom today include Oil and Gas Exploration Companies, Cement, Chemical and Power Generation and Distribution.

According to the data, cement dispatches posted a growth of 13 percent in fiscal year 2017-2018. Cement dispatches posted a stable growth of 3 percent for the month ended June 2018, clocking in 2.81 million tons compared to the 2.73 million tons during the same month last year.

Furthermore, through a filing on PSX website, Aisha Steel Mills (ASL) announced that it will be reducing the capital of the company by cancelling 66,768,583 ordinary shares of the Company.

Currently oil benchmark WTI is trading at $73.48 per barrel down 0.85 percent, while BRENT is down by 1.21 percent to $78.27 per barrel. The downward trend in oil is a market response to an increase in oil supplies by top exporter Saudi Arabia. Other concerns associated with the decrease in the oil prices include signs of an economic slowdown in Asia which could negatively impact the demand for oil from the region. 

The scripts that are at the bottom today in the first half of the current session include Colgate Pakistan (COLG), Atlas Honda (ATLH) and Lucky Cement (LUCK).