Opening Bell: Index in a state of consolidation during early hours

Following an up surge in the market for incessant two days, the KSE-100 index is now in a state of consolidation. Trading at 41,343 points as of now, the index has gained 31.2 points so far, gearing the market up by 0.08 percent.

Confined within a range of 238 points, the index has touched an intraday high of 41.533 and an intraday low of 41,320 points heretofore. A volume of approximately 21.5 million shares worth Rs. 1.2 billion have been traded by 84 companies by now, out of which 30 companies have reported an upswing, 51 have experienced downturn and 3 remain unchanged with respect to share prices.

The major sectors contributing to the gains on the index are Commercial Banks and Oil & Gas Exploration Companies, as their collective share to the index amounts to 136 points.
Among the index heavy weights, HBL (+2.88%), POL (+1.42%), HMB (+4.44%) and MCB (+1%) are driving the gains on the index so far.

On the contrary, the broader KSE – All Share index has shed 17.42 points and is currently trading at 30,067 points, with an intraday high of 30,198 points and intraday low of 30,045 points, moving within a range of 152 points.

Over 40 million Shares of the companies constituting the KSE All share have been traded so far, at a value of over Rs. 1.8 billion.

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