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PSX Opening Bell: KSE-100 index down by 700 points

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March 4, 2021 (MLN): The KSE-100 index has lost nearly 700 points during the initial hours of trading and is currently trading at 45,413, i.e. 1.5% lower than the closing of previous session.

Investors’ confidence was shaken after the joint opposition’s candidate Syed Yousaf Raza Gilani secured victory defeating PTI’s candidate Dr. Abdul Hafeez Sheikh on general seat in the Federal Capital. Nonetheless, Pakistan Tehreek-e-Insaf emerged as the majority party in the Senate after the elections on thirty-seven vacant seats of the Upper House held on Wednesday.

So far, the major losers have been Commercial Banks and the Cement Sector, as they have stripped the index off by 107 and 108 points respectively. E&P, Fertilizer, Power Generation and Technology & Communication have cumulatively taken away over 286 points from the index.

Company-wise, the scrips of LUCK, HUBC, TRG, ENGRO, MARI and PSO have suffered the maximum brunt.

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Posted on: 2021-03-04T09:47:00+05:00

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