KSE-100 Index bleeds over 1,000 points

MG News | May 11, 2022 at 02:11 PM GMT+05:00

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May 11, 2022 (MLN): Bears once again took a charge of the Pakistan Stock Exchange on Wednesday as the benchmark KSE-100 Index has plunged by 1,028 points or 2.36% [2:09 PST] and is currently trading at the 42,476.34 level.

The market witnessed massive selling pressure amid economic and political uncertainty.

The free fall of the Pakistani Rupee (PKR) has shattered the confidence of investors.

Speaking to Mettis Global News, Ahsan Mehanti, Director Arif-Habib Group said, “The uncertainty remained over SBP's upcoming monetary announcement and terms of IMF program resumption next week.”

Meanwhile, investors are eyeing the outcome of the $7.4bn Saudi Package which is sought by the incumbent government, he added.

Commercial Banks, Cement, Technology & Communication and Fertilizer sectors have witnessed selling activity as they lost 189, 129, 121 and 107 points, respectively so far.

Scrip wise, LUCK, SYS, UBL, EFERT, HUBC and EPCL have endured the maximum losses.

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Name	Price/Vol	%Chg/NChg
KSE100	171,021.20 228.53M	-0.42% -718.25
ALLSHR	103,836.39 572.65M	-0.41% -422.85
KSE30	50,951.99 89.47M	-0.52% -264.77
KMI30	240,633.87 93.99M	-0.31% -756.80
KMIALLSHR	66,572.75 300.61M	-0.28% -185.59
BKTi	48,673.23 31.18M	-0.70% -343.86
OGTi	33,702.25 6.35M	-0.61% -205.57

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	64,700.00	64,825.00 63,875.00	485.00 0.76%
BRENT CRUDE	98.70	101.19 95.13	-1.99 -1.98%
RICHARDS BAY COAL MONTHLY	105.75	0.00 0.00	-1.55 -1.44%
ROTTERDAM COAL MONTHLY	121.10	121.10 121.10	0.70 0.58%
USD RBD PALM OLEIN	1,175.00	1,175.00 1,175.00	0.00 0.00%
CRUDE OIL - WTI	90.47	0.00 0.00	1.16 1.30%
SUGAR #11 WORLD	14.76	14.79 14.54	0.07 0.48%