KSE-100 Index Closes With Net Loss Of 225.74 Points


KSE-100 Index closes with net loss of 225.74 points

PSX saw that share of prices of 200 companies were going down,  116 making some gains while 14 others did not see any change.

LAHORE: (UrduPoint/Pakistan Point News-May 20th, 2020) The KSE-100 Index made a slight recovery to reduce the losses by losing the session at 33, 932.81 with a net loss of 225.74 points here on Wednesday.

As the day started, the KSE-100 Index was a bit down by 371.59 points during the trading hours. pakistan stock exchange (psx) witnessed that the share prices of 200 companies were 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 share price of Mari Petroleum was down by Rs22.91 with the OGDLC, PPL and POL also shedding their values. The pharmaceutical companies were also among the poor performers after recent days of gains. The top losers among them were Ferozsons Rs31.44, Wyeth Pakistan Rs42.87 and Sanofi-Aventis Rs51.75.

Fida Hussnain

Fida Hussnain is a lahore based journalist. He writes on politics, religion, social issues and climate change. He is also a research fellow at University of Gujrat.