Opening bell: Selling spree continues on stock market

The index continues to linger in the red region as the losses at KSE-100 persevere. Having lost 251 points so far, the index is currently trading at 40,669 points

Enclosed within a range of 299 points, the index has risen to an intraday high of 40,961 points and dropped to an intraday low of 40,621 points. With respect to volume, the index has till now seen trading activity of over 18 million shares worth Rs. 971 million.

Losses in the scrips of Cement, Commercial Banks and Fertilizer seem to be weighing the most on the index so far, as these sectors have taken over 156 points from the index so far, followed by losses in the scrips of Chemical and Engineering sector.

Among the index heavy weights, HBL (-1.79%), LUCK (-2.31%), UBL (-1.3%), DGKC (-2.11%) and COLG (-5%), are driving the losses on the index so far.

With respect to the broader KSE – All Share, the index has gained 157 points and is currently trading at 29,809 points, with an intraday high of 29,987 points and intraday low of 29,795 points, moving within a range of 192 points.

Over 40 million Shares of the companies constituting the KSE All share have been traded so far, at a value of over PKR 1.5 billion.

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