Index down 400 points in intraday trade

After receiving record trade volume yesterday, index has been losing points at an alarming since the morning open. The KSE – 100 Index has lost 409.53 points during intraday trade, with volumes lingering at 74.068 million.

Top losers in index include Fertilizer, Commercial Banks, Oil & Gas Exploration Companies, and Power Gen and Distribution taking away a total of more than 250 points.

As per NCCPL Data for buying and selling for Thursday, Banks/DFIs, Insurance Companies and Foreign Corporates offloaded their positions in the market by a cumulative sum of 12.57 million. Meanwhile, Brokers/Proprietary Traders increased their positions by 8.284 million yesterday.

Ever since the bullish rally since the last week of December, Analysts have been warning of a retreat in share prices as investors flock to book their profits, making up for the losses in the last six months.