Intraday Report: KSE-100 index down by 956 points

MG News | September 22, 2021 at 12:54 PM GMT+05:00
September 22, 2021 (MLN): The benchmark KSE-100 index has lost 956 points [12:55 pm] in intraday trade and is currently trading at 45052.255 as the market was weighed by the news that the government has decided to control imports by increasing duties on major non-essential items to curb demand.
In an interview with a media house, Shaukat Tarin, Finance Minister said that the government has made a mistake by giving concessions to the Auto sector. He said the healthy remittances are saviour for the external balance as the exports are about 9% of GDP while Imports are over 20% of GDP, showing an imbalance that has to be narrowed down by curtailing the rising import growth.
The market witnessed huge selling pressure as investors are adjusting their investment portfolio amid a hike in interest rate, Arsalan Siddiqui, Co-Head of Research at Foundation Securities said while speaking to Mettis Global.
In addition, the forward-looking guidelines issued by the State Bank of Pakistan which clearly mentioned that MPC will gradually increase the interest rate, has also sidelined the investors’ interest, he added.
Technology & Communication and Commercial Banks have witnessed higher selling activity as they have lost around 165 and 124 points respectively.
Company-wise, the scrips of TRG, SYS, HBL, and LUCK have endured the maximum losses.
Copyright Mettis Link News
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Name | Price/Vol | %Chg/NChg |
---|---|---|
KSE100 | 135,939.87 307.74M |
-0.41% -562.67 |
ALLSHR | 84,600.38 877.08M |
-0.56% -479.52 |
KSE30 | 41,373.68 101.15M |
-0.43% -178.94 |
KMI30 | 191,069.98 82.45M |
-1.17% -2260.79 |
KMIALLSHR | 55,738.07 422.01M |
-1.03% -577.24 |
BKTi | 38,489.75 45.79M |
-0.02% -8.33 |
OGTi | 27,788.15 6.87M |
-1.24% -350.24 |
Symbol | Bid/Ask | High/Low |
---|
Name | Last | High/Low | Chg/%Chg |
---|---|---|---|
BITCOIN FUTURES | 116,960.00 | 120,695.00 116,090.00 |
-3275.00 -2.72% |
BRENT CRUDE | 68.77 | 69.41 68.60 |
-0.44 -0.64% |
RICHARDS BAY COAL MONTHLY | 96.50 | 96.50 96.50 |
0.50 0.52% |
ROTTERDAM COAL MONTHLY | 104.50 | 104.50 104.25 |
-2.05 -1.92% |
USD RBD PALM OLEIN | 998.50 | 998.50 998.50 |
0.00 0.00% |
CRUDE OIL - WTI | 66.64 | 67.13 66.22 |
-0.34 -0.51% |
SUGAR #11 WORLD | 16.56 | 16.61 16.25 |
0.26 1.60% |
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