KSE-100 slithers by 1.55%, profit taking and electricity price hike bother investors

October 23, 2018 (MLN): The KSE 100 index has reverted to a state of pandemonium during the early hours of today’s trading session by the cause of pessimistic sentiments resulting from a probable hike in electricity tariffs by the government along with an active profit-taking activing taking place within the stock market.

The index has lost around 670 points during the initial hours of the day and is currently trading at 37,675 points

The index is diving due to the scrips traded by Oil & Gas Exploration Companies, Commercial banks and Cement sectors as they have snatched a total of around 360 points from the index so far.

Among the index heavy weights, OGDC (-1.95%), LUCK (-3.26%), HBL (-1.86%) and PPL (-1.67%) are driving the losses on the index hitherto.

Within a range of 698 points, an intraday high of 38,365 points has been recorded whereas the intraday low remains at 37,663 points. About 48 million shares traded today for the scrips listed on the benchmark index.

The broader KSE All Share has lost 441 points and is currently trading at 27,936 points. An intraday high of 28,404 points intraday low of 27,936 points has been recorded so far.

Over 110 million shares of the scrips listed within the broader KSE All Share Index have been traded so far, with its value recorded at Rs. 3.1 billion.

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