KSE 100 Breaks 39,000 level for the First Time since December 2017

After losing 2.47% during the last trading session on Monday, Pakistan’s benchmark index KSE 100 remains bearish today as the index looses over 400 points during the early hours of the trading session today, breaking the 39,000 level for the first time since December 7th 2017.

Market remains perplexed by the unfolding of political events right before the elections on July 25th, and is worried that political uncertainties may lead to a delay in the election period.

Negative sentiment ensues as the index trades around 38,838 points down another 450 points or 1.15% so far.

As of the writing of this article, 54.2 million shares have been traded in the market for KSE 100 while volume in the broader KSE index is about 74 million shares, much higher from yesterday’s flow around the same time.

Intraday high for the day for KSE 100 has been recorded at 39,288 points, touching a low of 38,622 and travelling between a range of 625 points.

Sectors at the bottom in the KSE 100 include Food and Personal Care Products, followed by Commercial Banks, Cement and Oil and Gas Exploration Companies.

The scripts within the broader KSE All Share Index that are at the bottom today in the first half of the current session include Nestle Pakistan Limited (NESTLE) down 5% or Rs. 546.30, followed by Sanofi-Aventis Pakistan Limited (SAPL) down by 4.98% or Rs. 47.19, and Indus Motor Company Limited down by 2.07% or Rs. 26.4.

Scripts at the top within KSE today are Service Industries Limited (SRVI) up by 4.75% or Rs 35.85, followed by Dawood Hercules Corporation Ltd (DAWH) up by 4.97% or Rs 5.17 and Ghandhara Industries Limited (GHNI) up by 0.64% or Rs. 3.89.

Volume at KSE up till now is being led by Engro Polymer and Chemicals Limited (8.8 million), Fauji Cement Company Limited (7.2 million) and Maple Leaf Cement Factory Limited (5.4 million) so far.