August 08, 2023 (MLN): The benchmark KSE-100 Index closed Tuesday's trading session at 47,429.82 showing a decrease of 956.43 points, marking an intraday low of 47,335.32.

The fall can be attributed to the selling pressure witnessed during the trading session as major index sectors like automobile assemblers, cement, chemicals, commercial banks, oil and gas manufacturing companies, and OMCs were trading in the negative.

Moreover, political uncertainty can also be another cause with traders speculating potential election delays that may result in uncertainty surrounding economic policies.

Total Volume of the KSE100 Index was 197.511 million shares.

Of the 100 index companies 7 closed up, 86 closed down, 3 were unchanged while 4 remained untraded.

KSE100 Index was let down by Oil & Gas Exploration Companies with 268.46, Commercial Banks with 162.87, Cement with 90.93, Oil & Gas Marketing Companies with 84.75 and Technology & Communication with 76.21 points.

Companies dragging the index lower were OGDC with 141.29, PPL with 99.47, HBL with 56.55, PSO with 55.92 and SYS with 50.24 points.

KSE100 index was supported by Inv. Banks / Inv. Cos. / Securities Cos. with 62.39, Fertilizer with 7.84, Textile Spinning with 1.89 and Tobacco with 1.44 points.

Companies adding points to the index were DAWH with 69.48, ENGRO with 33.75, UBL with 17.5, MCB with 8.35 and GADT with 1.89 points.

In the broader market, the All-Share index closed at 31,552.71 with a net loss of 664.21 points.

Total market volume was 336.078 million shares compared to 381.855 from the previous session while traded value being recorded at 12.55 billion showing a decrease of Rs.1.98 billion.

There were 163,219 trades reported in 338 companies with 46 closing up, 275 closing down and 17 remaining unchanged.

Copyright Mettis Link News

Posted on: 2023-08-08T16:32:16+05:00