Karachi: Pakistan Stock Exchange (PSX) KSE-100 index remained under pressure as KSE-100 index slid 1.11 percent owing to political uncertainty in view of another long march to capital. As a result, KSE-100 Index fell 462.53 points to close at 41,140.33. On a weekly basis, benchmark KSE-100 index lost 2.54 percent. KSE-100 edges 0.15 percent higher amid political uncertainty.

First session kicked off at negative note and market fell in first session to close with a loss of 270 points. Decline intensified in second half and losses inflated further. Index-heavy automobile, cement, oil and chemical sectors closed with massive losses.

Capital Stake stated stocks took a beating on last trading session of week as political noise continued to rattle investors. “Indices slipped lower and lower all day long, whereas volumes plunged from last close,” it said. “Investors opted to stay on sidelines ahead of opposition’s long march.” A report from Topline Securities stated that KSE-100 Index largely remained under pressure during trading session.

WorldCall Telecom was volume leader with 25.7 million shares, followed by K-Electric with 13.2 million shares and Cnergyico PK with 10.4 million shares. Shares of 322 companies were traded, of which 87 registered an increase, 220 recorded a fall and 15 remained unchanged.

Published in The Daily National Courier, October, 29 2022

Like Business on Facebook, follow @DailyNCourier on Twitter to stay informed and join in the conversation.