Turbulence takes over stock market as it sheds over 600 points

October 15, 2018 (MLN): The KSE 100 index has dropped by 644 points during the early hours of the first trading session of the week, and is currently trading at 36,873 points. Pakistan stock market slips below 37000 points level and is at Two years three months low level

The effect of the economic slowdown on households and investors along with the price hike in petrol, gas and electricity and their multiplier effect has significantly jacked up the cost of living and doing business, shrinking trading volumes in the market as a result.

Scrips of Cement, Commercial Banks and Oil and Gas Marketing Companies are driving most of the losses so far as they have collectively taken away over 185 points from the index

Among the heavy weight index, losses on the scrips of LUCK (-4.43%), MARI (-4.22%), SNGP (-4.71%) and UBL (-1.47%) have geared down the index by 1.64%

Curbed within a range of 672 points, the index has touched an intraday high of 37,575 and an intraday low of 36,897 as of now. Total volume traded by the companies listed on the KSE-100 index amounts to 27 million, having a worth of around Rs. 1.2 billion.

The KSE All share index has lost 337 points as of now and is currently trading at 27,427 points.

The index has been trading within a range of 373 points, with a ceiling of 27,801 and a floor of 27,420 points.

Copyright Mettis Link News

Posted on: 2018-10-15T11:20:00+05:00

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