Pakistan Stock Exchange ends Wednesday down 1.59% at 40461 points

KSE-100 closed negative yet again after suffering from a consistent negativity propelling form the political uncertainty. The index stooped to new lows during the day, going below the threshold of 40000 points at noon losing more than1000 points. The index, however, recovered to bounce back as the day progressed registering a net loss of 654 points at the close.

KSE-100 Index at the day end lost a total of 654.78 points down by 1.59%, closing at 40461 points. Index Volume was 97.25 million shares, value of shares traded was PKR 8.02 billion with index low-high range of 39869.88 – 41179.88.

Fertilizer, Cement, Oil & Gas Marketing, Commercial Banks and Oil & Gas Exploration were top 5 worst performing sectors during the day. FATIMA -5.00%, KOHC -5.00%, MLCF -4.97%, SSGC -4.99%, SNGP -4.93%, ABL -5.00% and FABL -4,45% were the major laggards during the day.

ISL -4.93% suffered a major setback as it released the quarterly progress report on its plant. The company delayed the date set for beginning of operations of its new facility, moving the date from November this year to last week of February 2018.

Pakistan Oil Fields garnered much attention after it announced that it has discovered reservoirs of hydrocarbons “Ikhlas Block”, Potwar Region near Islamabad.

10 companies closed up, whereas 79 were down at the day end.