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Saturday, March 02, 2024  
20 Shaban 1445  

Pakistani stocks fall amid political volatility, foreign selling pressures

KSE-100 index loses over 900 points
A screengrab via Pakistan Stock Exchange website.
A screengrab via Pakistan Stock Exchange website.

Shares at the Pakistan Stock Market fell by more than 900 points on Tuesday amid political volatility. The South Asian country will open its booths to over 128 million registered voters on February 8.

“The Pakistan stock market experienced a bearish trend,” the Topline Securities said in its report.

According to the PSX website, the KSE-100 index lost 931.98 points to close at 61,841.74, down 1.48 per cent, from the previous close of 62,773.72 points.

The index exhibited a trading range of 1,437 points, reaching an intraday high of 63,075 and a low of 61,638 points.

As a result, the firm added that COLG, MEBL, ENGRO, OGDC, and MARI collectively had a negative impact, contributing to a decline of 350 points on the index.

“Throughout the trading session, a total of 436 million shares changed hands, valued at Rs 15.2 billion. KEL stood out as the volume leader, trading around 53 million shares.”

The Ismail Iqbal Securities said that the benchmark index showed volatility throughout the day, primarily attributed to “foreign selling pressures” in the equity market.

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