KSE 100 Breaks 40,000 Level in early hours down over 2%

After losing 3.9% last week, Pakistan’s leading index KSE 100 remains bearish today as the index looses another 850 points during the early hours of the trading session today. Market remains perplexed by the unfolding of political events right before the elections on July 25th, and are worried that political uncertainities may lead to a delay in the election period.

Negative sentiment ensues as the index trades around 39,430 points down another 850 points or 2.1%. 

So far, 30.7 million shares have been traded in the market for KSE 100 while volume in the broader KSE index is about 50.3 million shares.

Intraday high for the day for KSE 100 has been recorded at 40,372 points, touching a low of 39,427 and travelling between a range of 945 points.

Sectors at the bottom in the KSE 100 include Commercial Banks, Oil and Gas Exploration Comapnies and Fertilizer.

The scripts within the broader KSE All Share Index that are at the bottom today in the first half of the current session include Mari Petroleum Company Limited (MARI) down 1.89% or Rs. 27.41, followed by Indus Motors (INDU) down by 1.92% or Rs.25.69, and Abbot Laboratories (ABOT) down by 3.2% or Rs.21.95.

Scripts at the top within KSE today are Shahtab Sugar Mills Ltd (SHJS) up by 4.87% or Rs 5.72, followed by Sazgar Engineering Works Ltd (SAZEW) up by 1.58% or Rs 4.47 and Colgate Palmoilive (COLG) up by 0.11% or Rs. 3.

Volume at KSE up till now is being led by K-Electric (4.3 million), Unity Foods Limited (3.5 million) and JS Bank Limited (2.8 million) so far.