Stocks close flat as KSE 100 index loses 152 points

KARACHI: The Pakistan Stock Exchange does not seem stablise as the KSE 100 index shed 152 points as bears dominated in intra-day trading.

The KSE 100 index has decreased by 152.54 points (-0.37%) to close at 40,735.08 points. The indices witnessed the highest level at 40,997.50 and the lowest at 40,689.02 points. The total volume of scripts was 117.207 valued at Rs5.845 billion.

Meanwhile, the KSE 30 index also saw a decline of 95.62 (-0.51%) points closing it at 18,656.48 points. The total volume of scripts at the bourse was 48.84 million.  There were insignificant gains in share prices as the top active stocks were Unity (1.32%), K-Electric (0.46%), Fauji Foods (1.97%) followed by Silk Bank (-8.74%), Hascol (5.00%) and TRG (1.20%).

There were increased investments in the textile and equities sectors. The top advancers were BILF (39.06%), KHSM (22.22%), BPBL (20.83%), LMSM (10.55%) followed ARM (8.99%), DNCC (7.58%) and KOHP (7.03%).

Yesterday, the stock market fell flat as Pakistan Stock Exchange nudged forward by 39.09 points to close at 40, 887.62 points. The market start positively by then succumbed to selling pressure from investors and profit booking by foreigners sending the index spiraling down.

The KSE 100 index reached the highest level at 41,295.28 points and its lowest level at 40,815.80 points. The bourse eventually settled at the 40,887.62 points after witnessing a slight change of 39.09 (0.1%) before the market was suspended. The total volume of scripts was 110.675 million valued at Rs5.66 billion.

Trading began on a positive note but the stock was unable to withstand the pressure and had a minute record of 39.09 points. The last week has seen the absence of any positive triggers and subdued investor confider leading to a selling spree and a bearish takeover of the stock market.

On Friday, the KSE 100 index reversed its trend and shed 279 points as the bourse failed to rise. The automobile, financial, and oil exploration sectors were the worst hit. KSE 100-share Index recorded a decrease of 279.26 points, or 0.68%, to settle at 40,848.53.