Today’s session marked fourth consecutive day close of KSE – 100 Index closing in red. The market benchmark index has lost more than 830 points during the course of last four sessions. Index participation was relatively low as index participation dropped by 72 million shares, a decline of 17% day on day basis. The major sectors contributing to today’s decline came from Cement and Financials and Cement sectors.

In a first, Pharmaceutical sector turned out to be today’s winner after Drug Regulatory Authority Pakistan (DRAP) allowed an increase in prices in all medicines after the Cabinet approved the proposal. Glaxo Pakistan GLAXO +5%, Searle Pakistan SEARL +2.2%, and Abbott Labs ABOT +2.21% lent most support to index during the day.

Sector-wise all share index turnover was led by Technology & Communication (47.125 million), Chemical (31.059 million), and Engineering (30.117 million) with Cable & Electrical Goods (10.250 million) and Automobile Assembler (9.027 million) stocks trailing at the bottom.

KSE – 100 Index at the day end moved a total of -224.19 points down by -0.50%, closing in at 44233.11 points with index high-low range of 44615.10 – 44081.23.

KSE – All Share Index Volume was at 282.148 million shares, value of shares traded for all-shares index reached PKR 9.493 billion.

KSE – 100 Index Chart – Mettis Global

The index movement was limited within the 533.87 points range.

33 companies closed up, whereas 52 were down at the day end.