KSE – 100 Index falls 707.13 points

KSE-100 index remained negative throughout the day, as index broke the psychological level of 40,000 points. Index suffered from lack of any positive triggers after being constantly marred by political uncertainty.

More than twenty cases of market manipulation were unearthed by Securities and Exchange Pakistan also pushed the sentiment towards negativity. Despite echoes of positivity from the S&P Market Intelligence Report on Pakistan economy’s outlook, the investors were reluctant to participate.

FCCL (-3.17%) closed negative after announcing its result yesterday just before the session ended, with an EPS of PKR 0.32, below our expectation and market consensus

Commercial Banks, Oil & Gas Marketing Companies, Cable & Electrical Goods Ltd witnessed most turnover during the session whereas Chemical, Fertilizer, and Textile Composite recorded lowest turnover.

KSE-100 Index at the day end moved a total of -707.13 points down by 1.75%, closing at 39617.19 points. Index Volume was 93.50 million shares, value of shares traded was PKR 8.33 billion with index high-low range of 39557.12 – 40324.32.

The index movement was limited within the 767.20 points range.

16 companies closed up, whereas 70 were down at the day end.