Stock Market enters the red zone once again

September 12, 2018 (MLN): After experiencing a short-lived progress during yesterday’s session, KSE 100 index enters the red zone yet once again as the market suffers losses during the initial hours of the trading session today with the 100 index down over 200 points so far.

With an intraday high of 40,824, and an intraday low of 40,555 points, the index has travelled a range of 269 points as of now and is currently trading at 40,554 points.

With respect to volume, a total of around 16 million shares have been traded worth Rs 1.03 billion, with 16 companies’ stock prices on the rise as of now. 50 companies, on the other hand, are in the negative zone with the stock prices of 5 companies not changed from their last closing while 29 KSE 100 companies have not been traded at all.

Losses in the scrips of Cement and Fertilizer sector seem to be weighing the most on the index, as these sectors have taken over 75 points from the index so far, followed by losses in the scrips of Commercial Banks, Food & Personal Care and the Power Generation and Distribution Sector.

Among the index heavy weights, NESTLE (-5%), ENGRO (-1.17%), FFC (-1.57%) and LUCK (-1.5%), are driving the losses on the index so far.

On the contrary, Oil & Gas Exploration is emerging as the net gainer on the index as of now, having contributed about 15 points to the index.

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