Market awaits Avenfied verdict during first half of trading session

KSE – 100 Index remains unchanged from yesterday’s closing level during the first half of the trading session as markets await the decision on the Avenfield Case. Negative sentiment still ensues as the index trades at around 40,109 points down another 129 points or 0.32%. 

So far, 49.27 million shares have been traded in the market.

Intraday high for the day has been recorded at 40,354.85, touching a low of 40,028 and travelling between the ranges of 326.21.

Scripts at the bottom in the KSE 100 include Commercial Banks, Oil & Gas Exploration Companies and Cement, while those on top are; Power Generation & Distribution, Insurance and Investment Banks.

Currently oil benchmark WTI is trading at $73.10 per barrel, up by 0.2% whereas Brent is down by 0.1% at $77.32 per barrel. The fluctuations reflect the nervousness in the oil market caused by infliction of tariffs by U.S on Chinese goods and an expected retaliation from China along with comments on disruption of trade routes by Iran.

The scripts within KSE that are at the bottom today in the first half of the current session include Mari Petroleum company down by 2.67% or Rs.39.42, Wyeth Pakistan Limited down by 2.5% or Rs.35.99 and Khyber Tobacco Company down by 5% or Rs.32.

Scripts at the top within KSE today are Island Textile mills up by 4.34% or Rs.52, Hinopak Motors up by 5% or Rs.38 and Seimens Pakistan (Engineering) Company up by 2.64% or Rs.25.75

Volume at KSE up till now is being led by K-Electric (34.6 million), Fauji Cement Company Limited (1.9 million) and D.G Khan cement company (1.76 million) so far.