Morning Chronicle issued by Adeel & Nadeem Securities Limited

Karachi: The KSE-100 share index sustained its trend to follow the global stock markets. However good recovery in the prices of most of the blue chips was seen in the later stages. The KSE-100 share index concluded the session with a decrease of 46.34 points (-0.41 percent) at 11,264.95.

According to Adeel & Nadeem Securities Limited, the market range of the KSE-100 index for the session was 11,107.03 – 11,311.61. Total shares traded during the session decreased further by 9.20 million shares from the previous turnover of 67.65 million shares to reach at 58.45 million shares.

The KSE-100 share index opened the session at 11,205.87 with a massive downside gap of 105.42 points and declined further and remained in the negative zone for almost the entire session. Foreigner investors were seen on the buying side with a net buy of $US 0.93 million during the session. Out of 291 active scrips, 114 companies closed in the positive, 78 closed in the negative region, while the values of 99 stocks remained unchanged.

The KSE-100 share index has currently become highly volatile and although the prices are undervalued, the bearish sentiments are currently playing a significant role in downward play. Major resistance lies at 11,390 and support at 10,900 and 10,732.