Bloodbath at PSX: KSE-100 Index falls by over 1400 points

MG News | December 20, 2022 at 03:00 PM GMT+05:00

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December 20, 2022 (MLN): Sliding towards a bottomless pit, the benchmark KSE-100 Index has so far lost over 1400 points as the index is being traded below the lowest level since July 2022. Currently, the index is trading at 39,556.60.

Investors' confidence is completely shaken due to the current political turbulence in Punjab and KP assemblies to be solved coming Friday, Shayan Jan, Industry Research Analyst at Al Baraka Bank told Mettis Global.

He further added that institutions are on redemption, apparently, it looks like investment is being pulled out from the equity market and being switched towards the money market to get better risk-free returns.

"The future outlook is still negative as our foreign exchange reserves are declining every day, until and unless any huge funding is arranged market sentiment will remain negative," he anticipated.

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Name	Price/Vol	%Chg/NChg
KSE100	139,576.01 202.66M	0.84% 1163.76
ALLSHR	86,483.29 373.54M	0.91% 780.33
KSE30	42,666.28 84.44M	0.97% 411.43
KMI30	196,788.57 86.07M	1.38% 2678.98
KMIALLSHR	57,417.25 161.32M	1.24% 703.59
BKTi	37,887.97 14.26M	0.15% 56.63
OGTi	28,325.82 36.01M	3.23% 885.18

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	119,495.00	119,785.00 117,905.00	1875.00 1.59%
BRENT CRUDE	72.37	72.82 72.16	-0.87 -1.19%
RICHARDS BAY COAL MONTHLY	96.50	0.00 0.00	2.20 2.33%
ROTTERDAM COAL MONTHLY	104.50	104.50 104.50	-0.30 -0.29%
USD RBD PALM OLEIN	998.50	998.50 998.50	0.00 0.00%
CRUDE OIL - WTI	69.99	70.41 69.80	-0.01 -0.01%
SUGAR #11 WORLD	16.50	16.52 16.45	0.05 0.30%