March 02, 2022 (MLN): The benchmark KSE-100 index has lost 481 points or a 1% decline [9:38 PST] so far in morning trade and is currently trading at 44,341.94 due to supply disruptions from the Ukraine crisis and sanctions against Russia.
Cement, Technology & Communication, Commercial Banks sectors have witnessed selling activity as they lost 125, 36, and 19 points respectively so far.
As coal prices increased sharply to $300/ton, which brought the cement sector under modest pressure today, a research note by Ismail Iqbal Securities said.
Company-wise, the scrips of LUCK, SYS, PSO, DAWH, ENGRO, MARI, MLCG, HUBC and TRG have endured the maximum losses.
While commodity prices, especially coal and oil, surged due to the increasing geopolitical risks amid uncertainty on Russian supplies, the day started with a sharp decline in the domestic stock market, which is in line with global markets, Shayan Jaan, Equity Trader at Intermarket Securities told Mettis Global.
