Intraday Report: The Benchmark KSE-100 Index down by 623 pts
MG News | February 03, 2020 at 10:18 AM GMT+05:00
February 3, 2020 (MLN): Stocks have lost 623 points in the intraday session today and is currently trading at 41,013-level [10:12 a.m.].
According to Senior Economist, Muzammil Aslam, apart from Coronavirus concerns, the KSE-100 index has experienced the news relating to CPI print 14.6%, shortfall in tax revenues and news related to mini budgets. Apparently, the market has witnessed new lows, especially the cyclical sectors led to pressure on the concern of delay in monetary easing.
Commercial Banks & Oil & Gas Exploration have witnessed higher selling activity as they have cumulatively lost 243 points.
Company-wise, the scrips of HUBC, PPL, OGDC, HBL and UBL have endured the maximum losses.
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