Panicked investors land KSE-100 in losses as dollar rises

November 30, 2018 (MLN): The KSE 100 index landed in the red zone in the last trading session of the month, as it lost nearly 142 points and closed in at 40,496 points. Cement sector emerged as the major point snatcher as it took away 145 points from the index.

The market decline was a result of Dollar/PKR fluctuation that took place during initial hours of the day, where exchange rate reached a shocking Rs144/$, creating a panic within investors.

The investors gave a mixed reaction also because of the announcement of monetary policy that will be done today by the State Bank of Pakistan.

Moreover, all changes made in MSCI on November 13th quarterly review will be implemented as of the close of November 30, 2018. To recall, UBL and LUCK were moved from MSCI Global Standard to MSCI Global Small Cap index. While MLCF and HCAR were deleted from Global Small Cap index.

Among the index heavy weights, the scrips of LUCK (-4.57%), ENGRO (-2.44%), HBL (-1.93%) and UBL (-1.6%) faced most of the losses as market went down by 0.35%.

Within a range of 596 points, the index scored an intraday high of 40,936 points and an intraday low of 40,339 points.

Over 212 million shares traded today for the scrips listed on the benchmark index with their total value recorded at Rs. 22 billion.

Meanwhile, the KSE All share gained around 29 points by the day end and closed in a state of neutrality at 29,381 points.

An intraday high of 29,525 points and an intraday low of 29,181 points was recorded by the day end for the all share index with a range of 344 points.

Over 270 million shares of the scrips listed within the broader KSE All Share Index were traded today, with their value recorded at Rs. 23 billion.

Copyright Mettis Link News

Posted on: 2018-11-30T17:19:00+05:00