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Opening bell: Stock market in a state of consolidation ahead of mini budget announcement

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The stock market remains in a state of consolidation ahead of mini-budget announcement by the government.  As of now, the KSE-100 index has shed 22.9 points and is currently trading at 40,493 points.

Travelling within a range of 166 points so far, the index touched an intraday high of 40,610 and an intraday low of 40,444 points. 67 companies out of 100 have traded their shares amounting to 8.3 million on the index so far, with shares of 29 companies going up, 36 going down and 2 remaining unchanged. The value of these shares is estimated at Rs. 480 million.

The major sectors contributing to the losses on index are Cement, Fertilizer and Oil & Gas Exploration as their collective share of losses amounts to 51 points.

Among the index heavy weights, DAWH (-1.95%), HBL (-0.69%), ENGRO (-0.53%) and MCB (-0.54%) are driving the losses on the index so far.

Likewise, the broader KSE – All Share, the index has shed 5.81 points and is currently trading at 29,681 points, with an intraday high of 29,740 points and intraday low of 29,645 points, moving within a range of 94 points.

Over 21 million Shares of the companies constituting the KSE All share have been traded so far, at a value of over PKR 859 million.

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Posted on: 2018-09-18T10:46:00+05:00

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