KSE-100 makes swift recovery, lands in consolidation

January 17, 2019 (MLN): The trading on KSE-100 started off with cues of apprehension as the index took a downward trajectory during the first half of the session and went as low as 38,780 points. However, it made a swift recovery by the end of the trading activity, and ultimately closed in consolidation at 39,243 points.

The Banking, Fertilizer and E&P Sectors witnessed most of the selling pressure, as they collectively dragged the index down by 147 points. Moreover, the scrips of PPL (-1.1%), FFC (-1.34%), OGDC (-0.99%) and POL (-1.25%) endured the maximum pressure.

In terms of volume, the index showed improvement as it traded around 78 million shares as compared to 69 million shares traded yesterday.

While the overall impact of selling spree on the stock market was neutral, majority of the scrips failed to make their mark on the index as 64 out of 100 companies saw themselves in the red region.

The KSE All Share index also showed recovery and gained 46 points by the end of the session. Around 104 million shares, having a worth of Rs 5.3 billion, were traded on the broader index.

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