Rupee devaluation weighs in on the 100 index

As a collective result of increased interest rates coming into effect today onwards, and the devaluation of Pakistani rupee against the dollar, the market remained bearish today. KSE – 100 Index dropped steadily to settle at 39,665 points after losing 605 points, by the session end. The index peaked at 40,464 points whereas the low for the day was recorded at 39,396 points, swinging within a range of 1,068 points.

93.1 million Shares were traded at KSE – 100 today, increasing by 7.1% from the previous session’s end. The total value of trade extended to PKR 5 billion.

Chemical remained the top performer today, by contributing 9.25 points to the index while Cement, Commercial Banks, Fertilizers and Oil & Gas Marketing Companies were the net losers in this session, collectively taking away 381.35 from KSE – 100 index.

14 companies ended the day in green while 77 closed in the red.

KSE All Share index fell by 444 points, landing at 28,920 points, touching a high of 29,485 points and a low of 28,775 points. The total volume traded today was 147.3 million shares at a value of PKR 6 billion.

Maintaining its position since the last two sessions, Commercial Banks again led the sector turnover today, after trading a volume of 49.9 million shares. The Cement Sector secured the second position turnover wise by trading 20.2 million shares.

Within KSE All Share Index, 79 companies ended the day positively while 205 companies were negative by the day end.