KSE – 100 falls by 280.99 points

KSE – 100 opened the session on a negative trend, dropping 280 points to close at 40662.79 points amid dull trading. Market opened lower with ENGRO – 2.7% denting Index in early trade; volume for the stock totaled near 9mn shares.

With KSE – 100's fourth consecutive session closing in on negative, Oil & Financials took their toll on the market with giants like HBL -2.3%, OGDC -2.4%, MCB Bank -2.4%, PPL -1.6% and POL -1.4% all posting negative returns during the session. MARI petroleum opened the session with a news of new hydrocarbon discovery, which according to analysts will add positivity of EPS and bottom line of the company.

On the other hand, SBP reported that, Total Foreign Investment during October declined by 72%, falling from 1098.9 million dollars in October 2016 to 302.7 million dollars in October, 2017. However, FDI during July – October period rose by 74 percent. FDI in the first 4 months of Fiscal year 2017 amounts to $940 million.

Sector-wise all share index turnover was led by Fertilizer (10.74 million), Textile Composite (10.47 million), and Technology & Communication (7.70 million) stocks, and with Oil & Gas Marketing Companies (5.575 million) and Miscellaneous (3.152 million) stocks trailing at the bottom.

KSE-100 Index at the day end moved a total of -280.99 points down by 0.69%, closing in at 40662.79 points. Index Volume was at 47.870 million shares, value of shares traded was PKR 5.995 billion with index high-low range of 40943.78 – 40585.54.

The index movement was limited within the 358.24 points range.

30 companies closed up, whereas 44 were down at the day end.