KSE-100 Index registers third successive fall

The KSE-100 Index registered its third successive fall on Tuesday amid range-bound trading with investors feeling the absence of a positive trigger.

The market traded in a narrow range of around 420 points, oscillating between -187 points and +236 points.

At close, the KSE-100 registered a decline of 0.17% or 82.96 points to end at 47,346.16 points. The index has lost close to 340 points during the week so far.

The index went up earlier in the session that saw across-the-board buying activity, however, selling took over later on that drove stock prices down, particularly in power, technology, steel and refinery sectors.

Selling pressure persists as KSE-100 loses 257 points

Sectors dragging the benchmark index were power generation and distribution (36.45 points), technology & communication (26.28 points), and refinery (22.72 points).

Volume on the all-share index increased from 494.53 million shares on Monday to 541.30 million on Tuesday. The value of shares traded during the session amounted to Rs17.61 billion.

Hascol Petroleum was the volume leader with 49.86 million shares followed by WorldCall Telecom with 48.87 million shares, and Byco Petroleum at 29.91 million shares.

Shares of 413 companies were traded on Tuesday, of which 125 registered an increase, 271 recorded a fall, while 17 remained unchanged.