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Closing: KSE 100-index plunges 261pts ahead of merger with ISE, LSE

Closing: KSE 100-index plunges 261pts ahead of merger with ISE, LSE

KARACHI: The Karachi Stock Exchange benchmark 100-index lost 261.38 points or 0.77 percent to reach 33537.42 points and volume of 157,559,900 shares on Wednesday.
Earlier, the KSE Wednesday started positive and gained 36.93 points to reach 33835.73 points level.
On Tuesday, the stock market bounce back as the benchmark KSE-100 Index posted a gain of 698.48 points to close at 33,798.80 points. The index made an intra-day high of 2.22pc, to close at 2.11pc up with handsome volumes of 395 million shares, with value Rs19b.
High and low were 34021.07 and 33432.40 respectively. Total volume traded in the market was 157,559,900 shares.
The demutualization committees of all three stock exchanges of the country have decided to form a national stock exchange that will be called Pakistan Stock Exchange (PSE), which will replace Karachi Stock Exchange (KSE), Lahore Stock Exchange (LSE) and Islamabad Stock Exchange (ISE).
This was decided in a meeting of the demutualisation committees of all three stock exchanges at the Securities and Exchange Commission of Pakistan (SECP). In this regard, a formal MoU will be signed on (Thursday), in the presence of the Federal Finance Minister, Senator Muhammad Ishaq Dar.