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	138,597.36 256.32M	-0.05% -68.14
ALLSHR	85,286.16 608.38M	-0.48% -413.35
KSE30	42,340.81 77.13M	-0.03% -12.33
KMI30	193,554.51 76.19M	-0.83% -1627.52
KMIALLSHR	55,946.05 305.11M	-0.79% -443.10
BKTi	38,197.97 16.53M	-0.59% -225.01
OGTi	27,457.35 6.73M	-0.94% -260.91

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	117,670.00	121,165.00 117,035.00	-1620.00 -1.36%
BRENT CRUDE	69.23	70.77 69.14	-0.29 -0.42%
RICHARDS BAY COAL MONTHLY	96.50	0.00 0.00	2.20 2.33%
ROTTERDAM COAL MONTHLY	104.50	104.50 104.50	-0.30 -0.29%
USD RBD PALM OLEIN	998.50	998.50 998.50	0.00 0.00%
CRUDE OIL - WTI	66.03	67.54 65.93	-0.20 -0.30%
SUGAR #11 WORLD	16.79	17.02 16.71	0.05 0.30%