KSE – 100 gains 38.76 points today

KSE – 100 remained range bound today after touching its yearly lows during intraday trading. Sugar Stocks were the highlight today after approval for export was granted by Economic Co-ordination Committee to Sugar exporters.

However, the recovery from recent shocks might take too much time in the coming weeks. The political unrest coupled with the weakening fundamentals is taking a heavy toll on the market.

Sector-wise all share index turnover was led by Technology & Communication (21.64 million), Power Generation & Distribution (14.88 million), and Cement (13.81 million) with Engineering (4.04 million) and Oil & Gas Exploration Cos. (3.74 million) stocks trailing at the bottom.

KSE-100 Index at the day end moved a total of +38.76 points up by 0.10%, closing in at 39672.89 points.

Index Volume was at 73.09 million shares, value of shares traded reached PKR 5.905 billion with index high-low range of 39760.50 – 39462.71.

The index movement was limited within the 297.79 points range.

50 companies closed up, whereas 32 were down at the day end.