Pakistan’s KSE – 100 Index opened the week on a positive note, however, could not sustain the momentum after the news of FATF dampened investor sentiments. The index closed the day today after losing 280 points, closing at 42911.02 points below the 43000 points threshold.

Amongst the earnings releases, Mughal shone brighter as it closed up by +2.55% after announcing approval of expansion plans. In addition to that, SNGP -1.94%, DCL -5.06% closed red after announcing financial results for their respective period.

Furthermore, global equities opened the week on a bullish note extending last week’s gains forward. However, the global oil prices continue to take a dip downward as rising global supplies from US and other OPEC members continue to challenge the prices. Oil producing nations dependent solely upon the income from oil continue to face economic pressures from the domestic economy. Local oil stocks, OGDC, POL, PPL and MARI all closed down today after international benchmark prices fell in the international markets.

Commercial Banks, Oil & Gas Exploration Companies, Cement and Oil & Gas Exploration Companies closed the session at the bottom after collectively losing more than 280.53 points.

Volume traded increased by 42.5% during the session after total volume clocked in at 55.121 million versus 95.991 million yesterday.

Sector-wise all share index turnover was led by Engineering (34.081 million), Commercial Banks (19.149 million), and Technology & Communication (16.466 million) with Oil & Gas (5.567 thousand) and Cable& Electrical Goods (4.011 thousand) stocks trailing at the bottom.

KSE – 100 Index at the day end moved a total of -356.18 points down 0.82%, closing in at 42911.02 points with index high-low range of 43490.69 – 42804.50.

KSE – All Share Index Volume was at 167.571 million shares, value of shares traded for all-shares index reached PKR 7.172 billion

KSE 100 Chart, Mettis Global

The index moved in the range of 686.19 points.

28 companies closed up, whereas 62 were down at the day end.