KSE-100 Index sheds 91 points despite making gains during early trading

Pakistan Stock Exchange again suffered losses amid selling pressure on Wednesday as the benchmark KSE-100 Index was 91.34 points (0.22 percent) and closed at 40,539.30.

Although the session started with the KSE-Index reaching to 40,896.18 during the first hour of trading against the yesterday’s level of 40,630.64, it ended the session at 40,539.30 after bouncing back a bit from a low of 40,497.98.

There was also a 24.33 percent decrease in the total volume of the benchmark index, which stood at 61.17 million shares when compared with 80.84 million shares traded Tuesday.

In terms of sectors, most of the negative contributors were oil and gas exploration companies, commercial banks, power generation and distribution, cement and refineries which negatively contributed 128.46 points. But fertilizers closed by adding 26.18 points.

Shares of 91 companies were traded on Wednesday, of which 53 recorded a fall, 33 registered an increase and five remained unchanged.

The shares of five worst performing companies during the day were: Pak Suzuki Motors 6.89 percent, Honda Atlas 4.19 percent, K-Electric 3.94 percent, DG Khan Cement 2.96 percent and Sui Northern 2.74 percent.

On the other hand, Pak Gulf Leasing gained the most with a 5.98 percent increase in its share price followed by Rafhan Maize Products 5.48 percent, Tariq Glass Industries 2.07 percent, Century Paper and Board Mills 2 percent and AGP Limited 1.95 percent.

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