KSE – 100 index falls 195.81 points

KSE – 100 index was under pressure today as index ended the session dropping by 195 point’s to close at 41,239. Investor participation was low as market awaits reclassification of MSCI-EM index. Market analysts expect that Pakistan’s weightage in the EM index will be significantly decreased during the reclassification.

Oil & Gas Marketing Companies, Fertilizer, Power Generation & Distribution and Cement sector scrips took the index downward during the session taking away more than 128.7 points from the index. Index participation was significantly weaker today. Cement sector suffered from selling pressure as MLCF -2.90%, CHCC -2.39%, and DGKC -0.84% all closed in red.

Sector-wise all share index turnover was led by Technology & Communication (15.46 million), Engineering (10.67 million), and Textile Composite (8.16 million) stocks, and with Cable & Electrical Goods (3.48 million) and Insurance (3.26 million) stocks trailing at the bottom.

KSE-100 Index at the day end moved a total of -195.81 points down by 0.47%, closing at 41239.89 points. Index Volume was 34.164 million shares, value of shares traded was PKR 2.63 billion with index high-low range of 41435.70 – 41141.85.

The index movement was limited within the 293.85 points range.

24 companies closed up, whereas 55 were down at the day end.