Pessimism returns to trading floors as KSE – 100 slips beyond the 41,000 pt mark

November 22, 2018 (MLN): Oil & Gas Exploration Companies, along with Commercial Banks, set out on a selling spree through the day’s trade, stripping the benchmark 100 index of over 400 points collectively, on account of depression in international oil prices, and the news of UBL winding up operations in New York.

Bears had a lasting impact on the investors’ sentiments throughout the day, resulting in an overall loss of 545 points at KSE – 100 index, which slipped beyond the 41,000 point mark, by day end. Today’s session was concluded at 40,874 points, down by 1.32% from last session’s closing value.

Intraday high peaked at 41,419 points and intraday low dove as deep as 40,795 points, whilst the index moved within the range of 623 points.

The market participants traded a total of 88.9 million shares within KSE – 100 today, at PKR 6.4 billion.

Blue chips that drove the 100 – index towards red included, HBL (-3.98%), PPL (-3.65%), OGDC (-3.41%), POL (-4.57%) and UBL (-2.35%).

Meanwhile, the broader KSE All Share Index shed 382 points to close the session at 29,546 points.

A total of 160.2 million shares were traded within the broader All Share index, at PKR 8 billion.

Of all the scrips whose shares were traded today, shares prices of 268 companies dove while 78 companies rose.

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