Closing Bell - KSE-100 down by 0.93%; loses 389 points by day end

KSE-100 after witnessing an upward tick right after Eid holidays, went into another of the fall today as PSX could not carry forward yesterday’s positive momentum.

The investor activity in the session was bearish throughout the session as the profit taking took over any sign of continuing growth in the market.

In news, Bolan Casting releases financial earnings for the period. Whereas OGRA raised Sui Wellhead prices today by $1.4 per Mmbtu.

LINDE (-4.69%) closed lower after its announcement yesterday to extend the deadline for the prospective acquirers to publish a public offer till December 4, 2017.

Also, rising tensions between US and North Korea have propped up the demand for Gold as prices for Gold rose more than 400 Rupees in today’s market. Gold price shot up by Rs. 400 per Tola to Rs 52200 per tola. Global price also climbed by nine dollar to 1339 dollars. On Tuesday, the yellow metal climbed sharply by 10 dollars to an ounce while in domestic market it went up by Rs. 400 per Tola.

Analysts expect the market to recover slightly in the upcoming session.

KSE-100 Index at the day end lost a total of 389.21 points, closing at 41389.99 points. Index touched an intraday high of 42054.07 points whereas touching a low of 41324.61.

In percentage terms, index was down by 0.93%.