KSE-100 falls owing to bearish global markets



2022-02-14 19:06:00

— AFP/File
  • Trickle-down impact inventory promoting in worldwide markets was felt in Pakistan as properly.
  • At shut, KSE-100 index shed 435.28 factors to settle at 45,644.09.
  • Shares of 349 corporations had been traded in the course of the session.

 KARACHI: The bears on Monday gripped the Pakistan Inventory Trade as a dip in worldwide inventory markets — pushed by fears that Russia may invade Ukraine at any time — drove oil costs to seven-year peaks, impacted buying and selling on the native bourse.

America on Sunday mentioned Russia may create a shock pretext for an assault, because it reaffirmed a pledge to defend “every inch” of NATO territory, which renewed fears of an extra hike in oil costs and triggered inventory promoting within the worldwide markets. 

Its trickle-down impact was felt in Pakistan as properly the place the benchmark KSE-100 share index shed 435 factors.

Earlier, the buying and selling session kicked off on a constructive be aware, nonetheless, promoting stress pulled it down and the market was buying and selling with minor ups and downs in direction of noon. Acceleration in profit-taking in direction of the top of buying and selling dragged the index into the crimson zone and because of this, it closed with a good-looking loss.

On the shut, the benchmark KSE-100 index shed 435.28 factors, or 0.94%, to settle at 45,644.09 factors.

Benchmark KSE-100 index intra-day trading curve. — PSX data portal
Benchmark KSE-100 index intra-day buying and selling curve. — PSX knowledge portal

Arif Habib Restricted in its post-market commentary famous {that a} massacre session was witnessed immediately as crude oil costs surged to a seven-year excessive within the worldwide markets amid intensifying tensions between Ukraine and Russia. 

The cement sector stayed beneath stress due to larger worldwide coal costs.

The brokerage home reported that throughout the board promoting was recorded as traders opted for a risk-averse method. 

“Mainboard activity remained dull. On the flip-side, activity continued to remain side-ways as the market witnessed hefty volumes in the third tier stocks,” it mentioned.

Sectors contributing to the efficiency included industrial banks (-76.6 factors), expertise (-63.1 factors), fertiliser (-53.6 factors), cement (-42.6 factors) and engineering (-31.9 factors).

Shares of 349 corporations had been traded in the course of the session. On the shut of buying and selling, 58 scrips closed within the inexperienced, 273 within the crimson, and 18 remained unchanged.

General buying and selling volumes plunged to 187.8 million shares in contrast with Friday’s tally of 170.62 million. The worth of shares traded in the course of the day was Rs5.94 billion.

WorldCall Telecom Restricted was the amount chief with 33.53 million shares traded, dropping Rs0.10 to shut at Rs2.05. It was adopted by Telecard Restricted with 9.87 million shares traded, dropping Rs1.05 to shut at Rs16.32, and Ghani Global Holdings with 7.8 million shares traded, dropping Rs1.28 to shut at Rs20.50.

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