PSX: KSE 100 Index hit below 39000 after dropping 447 points

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Karachi Stock Exchange or KSE 100 Index has seen a significant decline after short period of positivity.

KSE 100 Index dropped by 447.67 points (1.14%) and reached at 38,851.96 level. The index lied in the negative zone after the market earlier increased by 39 points. However, several factors are affecting the performance of Pakistan Stock Exchange or PSX. The news report about the World Bank about the cancellation of $250m emergency loan for Pakistan, decreasing global oil prices, etc. are affecting the market.

The trading volumes were lowered by 124.01 mn shares compared with the previous volume of 154.2 mn. However, value of traded shares was Rs 5.8 bn during the day.

Overall, shares trading of 343 companies took place. However, at the end of trading day, 32 remain unchanged, 231 lowered, and 80 were closed higher. According to the recent data, foreign institutional investors were the Rs 486.9 million worth of shares net sellers.

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