Pakistan’s KSE – 100 Index loses 184.06 points

Index closed the session in red yet again today, after touching 44500 during intraday trade helped by blue chip stocks. Fauji Fertilizers FFC +3.1% shined during the day extending yesterday’s positive momentum after announcing better than expected results yesterday.

Cement and Financial continued to bear the brunt of foreign investors who sold their investments denting the day’s performance.

Dewan Cement DCL closed up by +2.51% after a disclosure released in the index announced Mega Corporation (Pvt.) Ltd. intention to acquire up to 87.5% shares/control of Dewan Cement Limited. +The description of the transaction revealed the acquirement of 75% shares through Agreement, whereas, the other 12.5% via public offer.

Sector-wise all share index turnover was led by Chemical (47.748 million), Cement (39.999 million), and Tech & Comm: (34.395 million) with Automobile Assembler (11.864 million) and Fertilizer (8.602 million) stocks trailing at the bottom.

KSE - 100 Index at the day end moved a total of -184.06 points down by -0.42%, closing in at 44049.05 points with index high-low range of 44533.76 – 43996.42.

KSE – All Share Index Volume was at 288.107 million shares, value of shares traded for all-shares index reached PKR 11.839 billion.

KSE - 100 Index Chart - Mettis Global

The index movement was limited within the 537.34 points range.

50 companies closed up, whereas 39 were down at the day end.