KSE-100 index ends in red for third consecutive session

The KSE-100 index continues to be in the grey region for the third consecutive day. Following a highly volatile trading activity, the benchmark index ultimately landed slightly towards the red zone, closing in at 41,851 points after losing 58.11 points during the day.

The market volatility throughout the trading session today was attributable to Asian Development Bank’s projected growth of only 4.80% for FY19, causing negative sentiments amongst the investors

On the other hand, positive sentiments were prompted by China’s agreement to strike import contracts with local producers to bridge the trade gap between the two countries.

Furthermore, anticipation regarding today’s IMF meeting caused mixed sentiments amongst investors.

The Oil & Gas Exploration Marketing, Oil & Gas Exploration and Fertilizer sectors emerged as the top loss contributors as they collectively took away around 82 points from the index. 

Precisely, losses on DAWH (-2.77%), POL (-1.28%), PPL (-0.8%) and PSO (-1.69%) drove most of the losses while the gains on LUCK (+2.36%) and PAKT (+4.31%) had the counter effect on the index.

Osculating within a range of 589 points, the index travelled to an intraday high of 40,972 and an intraday low of 40,383 points. 92 companies listed within the KSE-100 index traded their shares amounting to 94.9 million on the stock market. The total shares were valued at Rs. 4.3 billion.

Out of the total companies that traded on the KSE-100 index, 27 companies witnessed growth whereas 62 companies suffered decline in their share prices, while 3 companies’ share prices remained unchanged.

Congruently, the broader KSE All Share lost 13.53 points by the day end, closing in at 29,770 points. An intraday high of 29,829 points was recorded for the KSE All Share index, while the intraday low sunk to 29,480 points.

Over 148 million shares of the scrips listed within the broader KSE All Share Index were traded today, having a worth recorded at Rs.5.2 billion.

The total number of companies traded today were 309 out of which 97 closed up, 201 closed down while 17 remained unchanged from their previous stock prices.

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