Market under pressure as the index loses for the third consecutive day

Pakistan’s benchmark index for the capital markets, KSE 100, ended the day down 191 points from its previous closing, as investor sentiment remained dim for the third day in a row.

The index opened the session 127 points above the previous closing but was unable to sustain that upward trajectory during the day as the index fell 318 points from the market opening value to end at 42,446 points.

For the most part, the index demonstrated a sideways trading activity before finally giving in to the bears towards the end of the session.

Bound within a range of 484 points, the index rose to an intraday high of 42,852 points and touched an intraday low of 42,368 points.

A total of 74.9 million shares were traded of the companies listed within KSE - 100, at a value of PKR 6.7 billion.

The value of shares traded today exceeded the previous session's value by PKR 0.4 billion, however the volume traded today still fell slightly short of the trading activity witnessed the day before.

Among the companies listed within KSE - 100, those belonging to the Commercial Banking sector made the greatest losses today, letting the sector take away 41 points from the index. Oil & Gas Marketing Companies along with the companies within the Power Generation & Distribution sector followed close behind, each taking away 32 and 30 points respectively from the 100 index. Cement sector was also badly hit today.

93 companies listed within KSE – 100 saw trading activity in its shares today, of which 29 companies advanced, 62 companies declined, while stock values of 2 companies remained unchanged from their previous prices.

In contrast, the broader KSE - All Share lost 98 points to close the day’s session at 30,723 points. The index advanced to an intraday high of 30,937 points and dropped to a low of 30,674 points, with a range of 263 points today.

The companies constituting the All Share index witnessed trading activity of 145.3 million shares worth PKR 8.5 billion.

Sector-wise, Chemical companies dominated the volumes today at the Karachi Stock Exchange, with trading activity of around 21.5 million shares today.

Within the Karachi Stock Exchange, 97 companies closed the session in green while 206 companies closed the session in red.

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