According to Arif Habib Corporation’s Ahsan Mehanti, political noise caused equities to close due to anxiety on the outcome of judicial changes and foreign outflows.
He pointed out that investor mood was badly affected by government moves on IPP payment and tariff difficulties, low global crude oil prices, and delays in privatizing state-owned firms.
According to Topline Securities Ltd., the banking and E&P sectors saw profit-taking as they lost value and contributed 348 points to the index’s decline.
The KSE 100 index saw a low of 85,539.20 and a high of 86,520.29 over the same day. Nevertheless, the index lost 620.23 points, or 0.72 percent, on a daily basis before settling at 85,585.43.
Nonetheless, the traded value decreased 19.78% to Rs21.61bn, while the trading volume increased 8.21 percent to 513.28 million shares.
