The KSE-100 suffers losses yet again; the index has cumulatively lost more than 3000 points in last 9 sessions alone.

Country’s economic situation continues to pose problems for the markets; the uncertainty looming over the Premier ship has changed the market dynamics. Not only that, but Finance Minster’s fate continue to hang in a balance as well. Only recently he was discharged from all his chairmanship of all the economic committees.

Sources close to the new Prime Minister reveal that, Finance Minister and his familial links to NS had helped hum yield a lot of power, some even claim he was the de facto Deputy Prime Minister in the NS government. However, with Khaqan Abbasi into power it almost seems as if his detractors have gotten the better of him and his ability to muster up enough ability to make decisions has also declined sharply.

In a report, Finance Ministry revealed that on an average every Pakistani owes 95,000 in debt.

In corporate alerts, JS Bank posted results for the outgoing half year, reporting a decline of 5 percent in Total Income and a 52 percent decline in Profit after Taxes. Habib Metro also announces results today, the bank saw a decline of 23 percent in Revenues and a 6 percent decline in Profit after Tax.

Engro Corporation also announced Financial Results today; Dividend and Royalty Income increased by 52 percent YoY, PAT decreased by 79 percent for the period.

In other news, Polish company has announces it aims to drill 14 Oil & Gas wells in potential areas across Pakistan.

KSE-100 lost a total of 57.68 points during the day, closing on 43078.38 points. Index touched an intraday high of 43187.09 points whereas fell to a low of 42347.19 points.

Total companies traded in the session were 378 against the last session’s tally of 367 companies. 154 closed positive and 203 closed negative, whereas 21 were unchanged.