KSE – 100 index loses 216 points

Pakistan’s benchmark KSE – 100 index opened the week positing losses on first day; extending previous week’s negative momentum. The markets opened with the news of a sit-in hijacking the entire nation for the whole weekend.

The retail and education sectors were all shutdown under Government orders keeping in view the security situation in the country.

Net Turnover and Volume remained upward as KEL and TRG Pakistan being the key scrips garnering attention after it was cleared for sale to Shanghai Electric by the Privatization Commission.

Index went through a turbulent session falling sharply in the opening 10 minutes touching 39932 in intraday trading.

Sector-wise all share index turnover was led by Power Generation & Distribution (43.52 million), Technology & Communications (19.47 million), and Textile Composite (5.30 million) with Cable & Electrical Goods (3.68 million) and Cement (2.41 million) stocks trailing at the bottom.

KSE-100 Index at the day end moved a total of -216.24 points down by 0.54%, closing in at 40032.17 points.

Index Volume was at 74.317 million shares, value of shares traded reached PKR 3.612 billion with index high-low range of 40248.41 – 39932.48.

The index movement was limited within the 315.48 points range.

29 companies closed up, whereas 58 were down at the day end.