KSE-100 witnesses largest dip post elections, sheds 860 points

News Image

MG News | October 05, 2018 at 05:54 PM GMT+05:00

0:00

October 05, 2018 (MLN): The stock market was in abysmal pits during the last trading session of the week, following IMF’s stance that Pakistan was facing significant economic challenges, with declining growth, high fiscal and current account deficits, and low levels of international reserves.

The policies proposed by the IMF team further deteriorated hopes of the participants, as they included increase in interest rates (Policy rate up 275 basis points in 2018), Pak Rupee devaluation (local currency has weakened by 18% in 2018), increase in gas tariff by average 35%, proposed increase in power tariff and recent budgetary measures announced by the new govt.

The panic situation within the market was also prompted by an alarming plunge in foreign exchange reserves held by the central bank, Executive Director Research of Insight Mr. Zeeshan Afzal told Mettis Global.

Furthermore investor’s anticipation towards dollar devaluation also generated negative sentiments

While the index experienced an atrocious trading activity this whole week, it went over the line during today’s session as the closing dipped from 40,000 points, ultimately closing in at 39,226 points.

The stocks of Commercial banks (down by 206 points), Oil and Gas Exploration Companies (down by 118) and Cement (down by 93 points) largely influenced the index as they emerged as the major loss bearing contributors.

The losses on UBL (-3.63%), PPL (-2.04%), HBL (-1.95%) and OGDC (-2.07%) brought about most of the volatility on the index.

Engulfed within a range of massive 1106 points, the index touched an intraday high of 40,136 points and an intraday low of 39,030 points.

Correspondingly, the broader KSE All Share lost 602 points by the day end, closing in at 28,795 points. An intraday high of 29,433 points was recorded for the KSE All Share index, while the intraday low sunk to 28,746 points today.

Volume Leaders

\"\"

Top Gainers

\"\"

Top Losers

\"\"

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 134,299.77
290.06M
0.39%
517.42
ALLSHR 84,018.16
764.12M
0.48%
402.35
KSE30 40,814.29
132.59M
0.33%
132.52
KMI30 192,589.16
116.24M
0.49%
948.28
KMIALLSHR 56,072.25
387.69M
0.32%
180.74
BKTi 36,971.75
19.46M
-0.05%
-16.94
OGTi 28,240.28
6.19M
0.21%
58.78
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 118,140.00 119,450.00
115,635.00
4270.00
3.75%
BRENT CRUDE 70.63 70.71
68.55
1.99
2.90%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
1.10
1.14%
ROTTERDAM COAL MONTHLY 108.75 108.75
108.75
0.40
0.37%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 68.75 68.77
66.50
2.18
3.27%
SUGAR #11 WORLD 16.56 16.60
16.20
0.30
1.85%

Chart of the Day


Latest News
July 11, 2025 at 10:56 PM GMT+05:00

Gold price in Pakistan rises Rs2,300 per tola


July 11, 2025 at 05:49 PM GMT+05:00

PKR gains 10 paisa per USD


July 11, 2025 at 05:41 PM GMT+05:00

PSX Closing Bell: Bulls Serenade The Bourse


July 11, 2025 at 05:06 PM GMT+05:00

UBL doubles profit to Rs65bn in 1HCY25


July 11, 2025 at 04:19 PM GMT+05:00

Ideal Spinning Mills to exit spinning business



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg