KSE-100 index loses 818 points in early trade

December 2, 2021 (MLN): The benchmark KSE-100 index has so far lost 818 points [10:22 am] in an early trade and is currently trading at 44,551 as the market was weighed by the increase in cut-off yields on three months treasury bills (T-Bills).

This increase in yields created panic in equity markets. To note, yields on 3M T-Bills in auction held on Wednesday jumped by 228 basis points as the government only accepted bids worth Rs504.3 billion in all three tenors against a target of Rs750bn.

The investors' sentiments was also knocked down by looming uncertainty on the macro front amid ballooning merchandise trade deficit that reached $20.746bn in July-November FY22 from $9.549bn in the corresponding period last year.

Cement, Commercial Banks and Technology & Communication have witnessed higher selling activity as they have lost around 210, 108, and 95 points respectively.

Company-wise, the scrips of LUCK, SYS , TRG, HUBC and HBL have endured the maximum losses.

Copyright Mettis Link News

 

Posted on: 2021-12-02T10:27:05+05:00

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