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KSE-100 Index plummets by 650 points – Mettis Global Link

KSE-100 Index plummets by 650 points – Mettis Global Link

Oct 26, 2022 (MLN): Adhering to yesterday’s dropping momentum, the capital market on Wednesday remained less than enormous marketing stress owing to political sound in the place.

Imran Khan Chairman of Pakistan Tehreek e Insaf on Tuesday announced that a prolonged march in the direction of Islamabad would start from Friday which may build additional political disturbance in the region.

Pakistan’s fragile financial scenario can’t be subjected to this kind of political upheaval judging from the market’s robust reaction. Therefore, marketplace participants went on a spree of offer-offs instead than rolling above their foreseeable future positions, the write-up-closing take note by Pearl Securities reported.

Resultantly, the benchmark KSE-100 index dropped 650 points to settle the index at 41,540.03, marking an intraday reduced of 41,490.13.

By the session’s finish, the whole volumes of the KSE-100 index stood at 107 million shares, in comparison to 72.23mn shares traded yesterday.

In terms of sectors, most of the destructive contributions came from cement, technological innovation & conversation, oil & fuel, and power generation which cumulatively subtract more than 347 factors from the index tally by the day’s conclude.

Out of 89 companies’ shares traded these days 10 providers recorded gains and 78 companies sustained losses and 1 company’s share remained unchanged.

The scrips which obtained the most for the duration of the session provided: HGFA (18.94%), RMPL (7.49%), PSX (2.59%), and MEBL (1.59).

On the other hand, the stocks that emerged as internet losers throughout the day provided TRG (7.50%), MUREB (4.77%), GADT (3.97%), and NRL (3.85%).

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Posted on:2022-10-26T17:37:53+05:00