Stock market in extreme anguish as index loses nearly 1200 pts

December 3, 2018 (MLN): The KSE 100 index has gone down drastically during the early hours of the day, following the announcement by State Bank of Pakistan to hike the key interest rates by 150 basis points to 10 percent and sharply cut growth forecasts, as it warned that the economy faces mounting headwinds from rising inflation and high current account and fiscal deficits..

The index has lost around 1254 points so far, and is currently trading at 39,241 points

Fertilizer, Cement, Oil & Gas Exploration Companies and Commercial banks have emerged as the top net losers as of now, by jointly losing around 737 points.

Among the index heavy weights, HBL (-3.83%), ENGRO (-3.81%), FFC (-4.99%) and HUBC (-4.99%) have gained the most points hitherto.

Within a range of 1258 points, an intraday high of 40,496 points has been recorded whereas the intraday low remains at 39,237 points. About 35 million shares traded today for the scrips listed on the benchmark index.

Likewise, the broader KSE All Share has lost 710 points and is currently trading at 28,670 points. An intraday high of 29,381 points intraday low of 28,654 points has been recorded so far.

Over 56 million shares of the scrips listed within the broader KSE All Share Index have been traded so far, with its value recorded at Rs. 2.7 billion.

Copyright Mettis Link News

Posted on: 2018-12-03T10:31:00+05:00