Selling spree on stock market continues unabated for fifth consecutive session

Global Stocks rally on strong jobs data

In continuation of the four day long bearish spell on the stock market of the country, selling spree continues unabated as the benchmark index of the nation sheds over 460 points during early hours of the trading session.

Negative sentiments prevail amongst investors as the 100 index continues to plummet for the fifth day in a row, currently trading at 41,287 points, down by over 1% from the previous session’s closing value.

An intraday high of 41,742 points has been achieved as of now, whereas intraday low is currently recorded at 41,192 points as the index moves within a range of 530 points.

A total of 24.9 million shares of companies listed within KSE – 100 have been traded by far, at PKR 1.3 billion.

Sector wise, Fertilizer, Oil & Gas Exploration Companies, Commercial Banks and Cement have collectively stripped the 100 – index of 285 points.

KSE All Share on the other hand, has shed 293 points so far and is trading at 30,360 points, at present.

Travelling within a range of 315 points, the KSE index has touched an intraday high of 30,656 points and an intraday low of 30,341 points.

The scrips constituting the KSE All Share index have witnessed trading activity of 50.8 million shares, at PKR 1.9 billion so far.

Amongst the constituents within KSE All Share, Al-Ghazi Tractors Limited has gained Rs.10.47 in terms of its stock price while Faisal Spinning Mills has gained Rs.10. Both the scrips are currently leading the net gains.

On the flip side, Sapphire Textile has lost Rs.59.80 in terms of its stock price and is making the most losses within Karachi Stock Exchange.

K-Electric Limited has witnessed trading activity of more than 4.9 million shares by now, and is leading the volumes within KSE as of now.

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Posted on: 2018-09-03T11:20:00+05:00