KSE-100 fails to show improvement, dull activity expected in upcoming sessions

December 18, 2018 (MLN): The KSE 100 index lost nearly 193 points by the end of today’s trading session, and concluded at 38,115 points. The decline in oil sector due to the dip in international crude prices caused most of the adverse movements in the market.

Nevertheless, refinery sector showed improvement on the back of lower oil prices with expectation of positive GRMs. OMCs, on the other hand, faced selling spree due to expectation of inventory and foreign exchange losses build up.

Sector-wise, Commercial Banks and Oil & Gas Exploration companies remained under pressure as they faced the maximum losses from today’s session.

Among the index heavy weights, the scrips of HBL (-1.18%), POL (-1.82%), LUCK (-1.41%) and PPL (-0.92%) endured losses as market went down by 0.5%.

Throughout the day, the index moved between an intraday high of 38,323 points and an intraday low of 37,979 points, recording a range of 344 points, Around 68 million shares traded today for the scrips listed on the benchmark index with their total value recorded at Rs 3.5 billion.

The KSE All Share index, however, exhibited minimum volatility as the index lost merely 5 points by the day end and closed in at 28,177 points.

Over 90 million shares of the scrips listed within the broader KSE All Share Index were traded today, with their value recorded at Rs 4.1 billion. While the share price of 98 companies went up and 164 companies went down, the prices of 27 companies however remained unchanged

Besides, the market is expected to be mixed in the upcoming sessions with dull activity.

Copyright Mettis Link News