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Market in a state of consolidation during the first few hours

Uncertainty prevails in the capital markets yet again, for the second day in a row, as investors are yet to make a decisive move to the direction the market should take moving forward. So far, the KSE – 100 Index has lost merely 36 points and is currently trading at 42,776 points.

Traveling within a range of 240 points, the intraday high has been recorded at 42,976 points while the intraday low has touched 42,735 points as of now. Clearly, the market remains in a state of consolidation after gains made last week.

The companies listed within the KSE – 100 index have collectively traded about 65 million shares, worth PKR 3.16 billion, whereas the companies constituting KSE All Share have witnessed a trading activity of 123.4 million shares, worth a value of PKR 4.1 billion.

Oil & Gas Marketing Companies is emerging as the best performing sector within KSE – 100 at present, after contributing 39 points to the index so far, followed by Power Generation and Distribution companies. Oil & Gas Exploration Companies, on the other hand, are suffering the greatest net losses sector wise, followed by Food & Personal Care Products and Cement.

The broader KSE All Share index has shed about 110 points so far, a loss in value of about 0.36%.

Amongst the companies trading on KSE, the best performing with the highest increase in prices includes Indus Motor Company limited (an increase of Rs. 19), and Millat Tractor Limited ((an increase of Rs.17.47).

On the other hand, the more affected net losers are Nestle Pakistan Limited (decrease of Rs.500) and Colgate-Palmolive Pakistan Limited (decrease of Rs.90).

D.S Industries Limited is leading the volume having traded 11.9 shares already.

Posted on: 2018-08-02T11:46:00+05:00

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