KSE – 100 index gains 53.35 points

KSE – 100 index today traded the session on a relatively dull note as it only gained 53 points during the day. The index traded range bound as investors remain cautious over the looming US – China trade war.

In bourse news, K-Electric today announced that the Shanghai Electric’s bid to acquire a 66 percent stake in K-Electric remains withdrawn due to a delay caused by regulatory and other approvals. The company had previously shown interest in the Karachi Power Generation company K-Electric on June 29th 2017. The company had showed an intention to acquire up to 18,335,542,678 ordinary shares (66 percent) stake in K-Electric.

Furthermore, Millat Tractors Limited (MTL) Board of Management at an Extra Ordinary General Meeting today has authorized to invest up to Rs. 1.530 billion to subscribe at par fully paid up 153,000,000 ordinary shares of Rs. 10 each of Hyundai Nishat Motor (Private) Limited.

Volume traded decreased by 36.15 percent during the session after total volume clocked in at 56.880 million versus 89.093 million on Friday.

Oil & Gas Exploration Companies, Fertilizer, and Insurance closed the session at the top today after collectively contributing more than 87.24 points.

Sector-wise all share index top ten sector turnover was led by Chemical (35.798 million), Vanaspati & Allied Industries (24.812 million), and Food & Personal Care Products (24.540 million) with Automobile Assembler (6.853 million) and Fertilizer (5.254 million) stocks trailing at the bottom.

KSE – 100 Index at the day end moved a total of 53.35 points up 0.12 percent, closing in at 45083.57 points with index high – low range of 45118.16 – 44784.81.

KSE – All Share Index Volume was at 187.785 million shares, the value of shares traded for all-shares index reached PKR 8.001 billion.

KSE 100 Chart, Mettis Global

The index moved in the range of 333.35 points.

45 companies closed up, whereas 45 were down at the day end.