KSE – 100 index falls 296 points

KSE – 100 index went through another day in red; declining by 296 points to close in at 40,944 points. Among the notables, Engro took a dip down after it was downgraded from midcap to small cap index in the MSCI - EM Pakistan Index reclassification whereas PSMC, FEROZ, and SHELL were scrapped from the index. 

Fertilizer, Oil & Gas Exploration Companies, and Commercial Banks sector scrips took the index downward during the session taking away more than 265.65 points from the index. KSE - 100 Index participation picked up relative to yesterday’s with 57.486 million shares trading at day end. Index succumbed to selling pressure as ACPL -4.83%, ATRL -2.76%, NRL -2.09% with DAWH -5.00% and ENGRO -5.00% from Fertilizers closing at lower lock.

Sector-wise all share index turnover was led by Textile Composite (20.27 million), Technology & Communication (19.57 million), and Textile Spinning (16.39 million) stocks, and with Cement (4.253 million) and Cable & Electrical Goods (3.842 million) stocks trailing at the bottom.

KSE-100 Index at the day end moved a total of -296.11 points down by 0.72%, closing in at 40943.78 points. Index Volume was at 57.486 million shares, value of shares traded was PKR 2.007 billion with index high-low range of 41316.74 – 40899.50.

The index movement was limited within the 417.24 points range.

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