Opening bell: Stock Market runs losses amidst economic crisis

October 12, 2018 (MLN): The Pakistan’s stock market is running losses following US’s contemplation to probe the government's bailout appeal to the IMF from all angles, including the country's debt position has led to a panic spree amongst investors.

The KSE 100 has lost over 846 points so far, and is currently trading at 37,552 points.

Losses in the scrips of Commercial Banks and Cement sectors seem to be weighing the most on the index so far, as they have taken over 280 points from the index so far, followed by losses in the scrips of Fertilizer and Oil and Gas Exploration Companies.

Among the index heavy weights, UBL (-4.75%), LUCK (-5%), HBL (-2.89%), ENGRO (-1.67%) and PPL (-1.27%) are driving the losses on the index so far.

With respect to volume, a total of 42 million shares have been traded in the market for the KSE 100 companies so far at a value worth Rs 2.2 billion, with merely 7 companies’ stock prices on the rise, 52 companies in the negative zone whereas stock prices of 1 remaining unchanged.

The KSE All Share index has similarly lost 467 points and is currently trading at 27,750 points

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Posted on: 2018-10-12T13:01:00+05:00