October 12, 2018 (MLN): Absence of positive triggers has landed the KSE-100 in mayhem as the benchmark index shed around 880 points (-2.29%) to settle at 37,517 points.
The stock market remained volatile throughout the day mainly due to mixed sentiments amongst investors caused by lack of clarification on IMF bailout coupled with the devaluation of Pakistani currency.
The stocks of Commercial banks (down by 170 points), Fertilizer (down by 146 points), Oil & Gas Exploration Companies (down by 138 points) and Cement (down by 110 points) largely influenced the index as they emerged as the major loss bearing contributors.
The losses on ENGRO (-3.46%), LUCK (-5%), HUBC (-4.61 %%) and MCB (-3.01%) brought about most of the volatility on the index.
Within a range of a massive 1039 points, the market travelled to an intraday high of 38,445 points and an intraday low of 37,405 points. With respect to volume, around 92 million shares of the companies listed on KSE-100 were traded with a worth of around Rs. 4.6 billion.
Correspondingly, the broader KSE All Share lost 450 points by the day end, closing in at 27,767 points. An intraday high of 28,265 points was recorded for the KSE All Share index, while the intraday low sunk to 27,667 points today.
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