KSE-100 Index down by 225.74 points

By: News Desk      Published: 04:21 PM, 20 May, 2020
KSE-100 Index down by 225.74 points

The KSE-100 Index at one point was down by 371.59 points during the trading on Wednesday but later made a slight recovery to reduce the losses by closing the session at 33,932.81 with a net loss of 225.74 points.

The Pakistan Stock Exchange saw the share prices of 200 companies going down and that of 116 making some gains while 14 did not experience any change.

Earlier, the index shed 203.36 points on Monday followed by a gain of 353.58 on Tuesday.

The stock market has made a net gain of 2,603.35 points since April 16 when the KSE-100 was at 31,329.46, which represents a positive trend after the KSE-100 Index had slumped to 27,228.80 on March 25.

On Jan 1, the index had closed 41,400 and later reached 43,207.05 on Jan 10 but after that it slid to the March 25 level of 27,228.80.

Amid the losses suffered by the majority of companies on Wednesday, the automobile sector experienced a great session as the share prices of car manufacturers made significant gains. Indus Motors remained the top performer with an Rs23.48 increase followed by Honda Atlas Rs12.53 and Pak Suzuki Rs12.33.

However, it wasn’t the case with other important sectors like commercial banking, chemicals, cement, engineering and fertilizer, textile as well as food and personal care as the overwhelming majority shed their value albeit the losses were not huge.

Meanwhile, the losses in the case of oil and exploration companies were not negligible as the share price of Mari Petroleum was down by Rs22.91 with the OGDLC, PPL and POL also shedding their values.

On the other hand, the pharmaceutical companies were also among the poor performers after recent days of gains. The top losers among them were Sanofi-Aventis Rs51.75, Wyeth Pakistan Rs42.87 and Ferozsons Rs31.44.