PSX sheds 440 points owing to nonsensical rumors

MG News | August 23, 2019 at 12:17 PM GMT+05:00

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August 23, 2019 (MLN): In a rather surprising turn of events, the KSE-100 index has lost 440 points in intraday, and has closed the first session of Friday at 31,444 points.

The market seems to be getting influenced by nonsensical and fallacious rumors regarding Pakistan being blacklisted by Financial Action Task Force (FATF).

Secondly, now that market has gained substantial momentum, the profiteers are taking up this opportunity to sell off their stocks for higher gains.

Having travelled within a range of 661 points, the index has so far touched an intraday low of 31,439 points.

Up until this point, the E&P and Power Generation sectors have endured the maximum losses.

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KSE100	188,587.66 449.79M	-0.31% -579.17
ALLSHR	112,503.19 867.07M	-0.27% -306.46
KSE30	58,026.90 155.32M	-0.31% -180.82
KMI30	268,418.81 155.28M	-0.40% -1078.22
KMIALLSHR	72,509.98 549.07M	-0.44% -318.36
BKTi	53,346.13 36.94M	-0.33% -174.24
OGTi	38,638.48 11.10M	-0.64% -248.26

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	88,600.00	88,790.00 87,900.00	1015.00 1.16%
BRENT CRUDE	65.23	65.76 65.11	-0.36 -0.55%
RICHARDS BAY COAL MONTHLY	86.75	0.00 0.00	-2.50 -2.80%
ROTTERDAM COAL MONTHLY	99.00	99.10 99.00	0.05 0.05%
USD RBD PALM OLEIN	1,071.50	1,071.50 1,071.50	0.00 0.00%
CRUDE OIL - WTI	60.34	60.87 60.20	-0.29 -0.48%
SUGAR #11 WORLD	14.77	14.87 14.67	0.04 0.27%