KSE – 100 loses 1122 points

Carnage! The word that comes to mind when one looks at today’s index performance. The index posted highest negative return since August 2017 while falling below the psychological level of 39000 points. KSE - 100 performance has been crippled by the ongoing political tensions in the country. 

The index today was marred by the announcements of political parties looking to hold a sit in major cities across Pakistan against President Trump’s Jerusalem decision and Model Town massacre. The political analysts believe the incumbent Government may announce early elections as uncertainties abound.

Sugar Sector scrips were relatively positive against the Sindh Agriculture Departments’ notice to raise the prices of Sugarcane.

In other news pertinent to the Index, the PSX has proposed to widen the existing scrip-level circuit breakers to maximum 15 percent and introduce trading halt if the KSE – 30 Index movement reaches 15 percent.

Sector-wise all share index turnover was led by Power Generation & Distribution (26.57 million), Technology & Communication (22.53 million), and Commercial Banks (20.96 million) with Textile Composite (5.95 million) and Chemical (5.11 million) stocks trailing at the bottom.

KSE-100 Index at the day end moved a total of -1122.66 points down by 2.81%, closing in at 38784.66 points.

KSE – 100 Index Volume was at 71.10 million shares, value of shares traded for all-shares index reached PKR 4.78 billion with index high-low range of 39907.32 – 38769.09.

The index movement was limited within the 1138.23 points range.

8 companies closed up, whereas 79 were down at the day end.