Closing Bell: KSE-100 Index loses 925 points, down by 2.15%

PSX-100 continues to remain under heavy pressure owing to the political uncertainty prevalent in the market.

Major financial events expected to take place in the coming weeks have turned the tide downwards. Lack of investor confidence from Foreign Investors, expected devaluation of the PKR in the coming week & a committee’s probe to investigate into the PKR depreciation continues to push the market.

In today’s corporate alerts; Thatta Cement, Abbot Laboratories, Packages Ltd. and Saif Power Ltd. announced financial results for the three, six and year ended June 2017.

Also, Fossil Energy announced it has submitted a proposal to acquire 17.68% in Clover Pakistan Ltd.

KSE-100 Index lost a total of 925 points, closing at 421533.38 points. Index touched a high of 43135.01 points whereas touching an intraday low of 42016.87.

In percentage terms, index was down by 2.15%.