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Markets

KSE-100 Index ends nearly flat as bullish momentum fizzles

  • At close, index finishes with a gain of 31.56 points or 0.07% to settle at 47,789.88
Published August 4, 2021

The KSE-100 failed to carry forward its positive momentum from the previous two sessions with the index closing nearly flat after finding resistance near the 48,000 level on Wednesday.

The KSE-100 started off on a positive note, gaining over 200 points to hit an intraday high of 47,980. However, profit-booking meant all gains were erased. At close, the KSE-100 finished with a gain of 31.56 points or 0.07% to settle at 47,789.88.

The index has stayed in the 47,000-48,000 range for almost a month with worries over the spread of Covid-19, a widening current account deficit and pressure on the rupee keeping investors at bay.

KSE-100 gains over 300 points as positive momentum continues

Sectors that helped the benchmark KSE 100 index included banking (68.48 points), oil and gas marketing (19.73 points) and chemical (16.12 points).

Volume on the all-share index increased from 443.21 million on Tuesday to 532.95 million on Wednesday. However, the value of shares traded during the session amounted to Rs15.15 billion, a decline from Rs16.19 billion on Tuesday.

Telecard Limited remained the volume leader with 58.17 million shares, followed by Hascol Petrol with 49.79 million shares, and WorldCall Telecom at 45.69 million shares.

Shares of 492 companies were traded on Wednesday, of which 229 registered an increase, 237 recorded a fall, while 26 remained unchanged.

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