Panic selling witnessed at KSE amid thin trade on rising political uncertainty ahead of 14th August march against 2013 general elections rigging and destabilising demands by major political leaders.
Equity expert said uncertainty in global stocks and institutional consolidation in overbought stocks after major earning announcements played a catalyst role in bearish sentiments.
Concerns for rising circular debt in energy sector, deteriorating geo-political situation, dismal fertilizer sales data for Julí14 played a catalyst role in bearish activity despite strong earning announcements in oil & banking sectors, he added.
KSE-Allshare index off by 262.99 points or 1.20 percent to stop the trading at 21588.52 points, KSE-30 index misplaced 197.27 points or 0.95 percent to stop the trading at 20483.46 points while KMI-30 index reduced by 372.74 points or 0.78 percent to conclude the session at 47466.24 points.
Trading took place 339 companies where 64 closed in green and 254 in negative while the value of 21 stocks remained intact. Nestle Pak was the biggest price loser of the day decreased by
Volume declined to 97.408 million shares from 132.767 million shares and the value of traded shares reduced to
Samar Iqbal AVP at
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