KSE – 100 loses 596.10 points

The 100 index went through another spiral downwards today as investor participation declined 22% on a day to day. The situation got worse as reports came in from various circles that assemblies might not be able to complete their term.

Investors have lost their appetite for any more turbulence in the market, divesting more than 16.289 billion from the equities market during December alone. The recent uncertainties in the political corridors has had the entire system in a dysfunctional state resulting ushering in a period of absolute uncertainty.

Sector-wise all share index turnover was led by Technology & Communication (14.04 million), Power Generation & Distribution (10.64 million), Cement (9.47 million) and with Textile Composite (3.86 million) and Fertilizer (3.54 million) stocks trailing at the bottom.

KSE-100 Index at the day end moved a total of -596.10 points down by 1.54%, closing in at 38223.55 points with index high-low range of 38825.74 – 38126.85.

KSE – All Share Index Volume was at 92.946 million shares, value of shares traded for all-shares index reached PKR 4.104 billion.

The index movement was limited within the 698.89 points range.

12 companies closed up, whereas 73 were down at the day end.