The index was dominated by bears today as the market stooped to new lows after losing more than 1.5 percent amidst tight volumes.

Escalating tensions with USA and the unapologetic rhetoric of Pakistan towards United States along with the political uncertainty in the local arena continues to take its toll on the market.

KSE-100 volumes remained tapered, dropping from 82.6 million in the preceding session to 53.4m today. Values were similarly lower, dropping from Rs7.58 billion on Friday to Rs4.56bn today.

In today’s corporate alerts; PICIC Investment Fund, Agri Auto Industries, Atlas Insurance, Crescent Star Life Insurance, Hi-tech Laboratories, Amreli Steels, Systems Limited, Atlas Battery, Allied Rental Modaraba, The United Insurance Co. Ltd., Akzo Nobel, East West Insurance Co. Ltd. and Pakistan Stock Exchange announced financial results for the quarter, half year and year ended June 2017.

Akzo Nobel witnessed a 12 percent increase in Net Sales and profits for the period increased by 14 percent.

Pakistan Stock Exchange witnessed a revenue increase of 11.60 percent, whereas profit for the period increased by 110 percent.

Also, in other news Metro Securities announced (via Ismail Iqbal Securities) that due unsuccessful negotiations, it has withdrawn its offer to acquire up to 60% voting shares in Linde Pakistan.

Furthermore, General Electric announced its plan to setup wind farm in Jhimpir, Thatta.

Also, intervewing an international news agency, Mr. Shahid Khaqan Abbasi has hinted that there are currently no plans to devalue the currency despite rising deficit.

KSE-100 Index at the day end lost a total of 667.53 points, closing at 41974.22 points. Index touched an intraday high of 42641.75 points whereas touching an intraday low of 41820.23.

In percentage terms, index was down by 1.57%.