KSE-100 index takes a U-turn towards deterioration as index loses 1002 pts

December 06, 2018 (MLN): The KSE 100 index took a massive U-turn from its previous session’s slight recovery, while landing itself into a great massacre as it lost nearly 1,002 points by the day end, and concluded at 38,300 points owing to continuous downfall of International Markets. The Stock market has so far lost approximately 2,083 points in four days alone.

Furthermore, the switch towards fixed-income from equity by Mutual Funds holders as well as investors caused a selling spree for equity instruments, causing further pressure on the index.

The sectors to suffer the most from this outcome included Cement, Commercial Banks, Fertilizer and Oil % Gas Marketing companies, as they took away 585 points from the index.

Among the index heavy weights, the scrips of MCB (-4.46%), PPL (-3.1%), ENGRO (-3.01%) and HBL (-2.57%) faced most of the losses as market went down by 2.55%.

Throughout the day, the index moved between an intraday high of 39,448 points and an intraday low of 38,247 points, recording a range of 1201 points, Around 121 million shares traded today for the scrips listed on the benchmark index with their total value recorded at Rs 7.6 billion.

Likewise, the KSE All share lost around 501 points by the day end and closed in at 28,176 points.

An intraday high of 28,779 points and an intraday low of 28,156 points was recorded by the day end for the all share index with a range of 623 points.

Over 189 million shares of the scrips listed within the broader KSE All Share Index were traded today, with their value recorded at Rs 8.9 billion.

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