KSE – 100 falls by 781 points

KSE – 100 went through another negative session dropping to a nine day low. The market continues to decline amid the rising political noise which has investors worried over the future of economy and political scenario. Investors continue to look for positivity in market amid the weak fundamentals.

The day started with news of NAB sending out non-bail able warrants against Finance Minister Ishaq Dar for failing to appear before courts despite repeated summons which hampered the sentiment to a significant degree.

Today’s session was taken over by earning’s reports as major players in Cement and power sector released financial earnings for their quarters ended September, 2017.

Index activity was relatively higher than yesterday as market participation declined by 33% during the day, subsequently value traded was also significantly lower by 20.48%

Commercial Banks, Cement, Fertilizer and Oil & Gas Exploration Cos. sectors were the top laggards at the day end, cumulatively taking away more than 490 points at the day end.

Textile Composite, Commercial Banks, Technology & Communications witnessed most turnover during the session whereas Power Gen & Distribution and Glass & Ceramics recorded lowest turnover.

KSE-100 Index at the day end moved a total of -781.09 points down by 1.90%, closing at 40324.32 points. Index Volume was 53.19 million shares, value of shares traded was PKR 5.43 billion with index high-low range of 41173.36 – 40258.58.

The index movement was limited within the 914.80 points range.

9 companies closed up, whereas 83 were down at the day end.