KSE – 100 Index loses 449.74 points

Equities closed the session today down by 449 points or one percent at the day’s end at 44747 points, falling below the psychological barrier of 45000 points. The trading remained bearish right at the outset as index faced negative news from multiple international organizations i.e. Moodys, IMF etc.

Banking stocks were the worst affected during the day today after Moodys announced that the Super Tax currently in effect will have a detrimental effect on the banking sector profits banks wiping out more than 7 percent of entire banking sector profits. This news sent the index dipping downwards at the beginning.

Volume traded at KSE – 100 index increased by 12.47 percent during the session after total volume clocked in at 73.715 million versus 65.541 million yesterday.

Commercial Banks, Oil & Gas Exploration Companies, and Fertilizer scrips during today’s session were at the bottom today after collectively taking away more than 305.92 points.

Sector-wise all share index top ten sector turnover was led by Chemical (28.436 million), Commercial Banks (22.154 million), and Cement (12.946 million) with Power Gen & Distribution (4.562 million) and Refinery (4.22 million) stocks trailing at the bottom.

KSE - 100 Index at the day end moved a total of 449.74 points down 1.00 percent, closing in at 44746.63 points with index high – low range of 45259.77 – 44556.18.

KSE – All Share Index Volume was at 144.151 million shares, the value of shares traded for all-shares index reached PKR 6.552 billion.

KSE 100 Chart, Mettis Global

The index moved in the range of 703.59 points.

12 companies closed up, whereas 74 were down at the day end.