KSE-100 Drops Over 1,100 Points

Trading at the Pakistan Stock Exchange (PSX) ended on a negative note on Tuesday, with the KSE 100 Index closing at 177,083.22 points after falling 1,116.80 points due to cautious investor strategy and selling pressure in shares of major companies.
The index touched a high of 178,768.83 points during the day, while the low was 177,043.10 points. Overall, the index recorded a decline of 0.63 percent and the index’s share volume stood at 263.77 million shares.
MEBL, PSO, KAPCO, POWER and MTL played a positive role in the market, however, significant declines in UBL, ENGRO, OGDC, LUCK and PPL kept the overall market under pressure.
Meanwhile, the KMI 30 Index also remained bearish and closed at 249,402.60 points after falling 1,875.51 points. The index fell 0.75 percent while the trading volume of the index shares stood at 98.38 million shares.
In KMI 30, MEBL, PSO, SSGC, SNGP and FFL were the top performers, while ENGRO, OGDC, LUCK, PPL and EFERT had the most negative impact on the index.
Market experts said that selling pressure in energy and large companies’ shares affected investor confidence, while upcoming economic data, corporate financial results and policy developments could play a significant role in determining the market direction.