KSE-100 crashes by 711 pts as investors exhibit pessimism towards budget announcement

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By MG News | June 10, 2019 at 11:33 AM GMT+05:00

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June 10, 2019 (MLN): The KSE 100 index has crashed by almost 711 points during the early hours of the session, and is trading at 34,793 points as of now. The benchmark index has succumbed to the unfavorable sentimentalities hovering around tomorrow’s budget announcement, as most market participants expect a budget loaded with taxes.

The stock market is showing extreme volatility also because of unfavorable movements in exchange rate and selling pressures as capital market has opened after almost a week.

It is pertinent to state that the index has lost nearly 10,636 points since the announcement of last annual budget.

Commercial Banks, Fertilizer and Cement sector seem to be the major driving forces behind this deterioration, as they have collectively taken away around 320 points from the index.

The broader KSE All Share index has also lost nearly 480 points so far, and is currently trading at 25,412 points.

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Name Price/Vol %Chg/NChg
KSE100 130,686.66
280.01M
0.26%
342.63
ALLSHR 81,305.25
897.01M
0.35%
281.26
KSE30 39,945.45
114.02M
0.09%
37.19
KMI30 190,698.05
148.61M
0.61%
1163.05
KMIALLSHR 55,074.15
495.43M
0.53%
290.50
BKTi 34,568.40
28.73M
-1.07%
-372.33
OGTi 28,739.35
22.59M
1.57%
443.29
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 110,160.00 110,525.00
110,055.00
-255.00
-0.23%
BRENT CRUDE 68.70 68.89
68.66
-0.10
-0.15%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
-0.75
-0.76%
ROTTERDAM COAL MONTHLY 108.45 109.80
108.45
-0.55
-0.50%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.98 67.18
66.95
-0.02
-0.03%
SUGAR #11 WORLD 16.37 16.40
15.44
0.79
5.07%

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