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Home / Markets / KSE-100 nosedives by 302.51pts, down 0.94% to close at 31781.65pts
KSE-100 nosedives by 302.51pts, down 0.94% to close at 31781.65pts

KSE-100 nosedives by 302.51pts, down 0.94% to close at 31781.65pts

KARACHI: The Karachi Stock Exchange benchmark KSE 100-index lost 302.51 points or 0.94 percent to reach 31781.65 points and volume of 173,168,290 shares on Wednesday.

It seems vagaries have haunted, the otherwise, buoyant Karachi Stock Exchange (KSE) which witnessed a good recovery since Tuesday. Although political temperature appears to have been simmering down, stocks felt the jitters ahead of the scheduled shutdown in Lahore on Dec 15 announced by Imran Khan-led PTI.

Karachi Stock Exchange had started pushing away bearish trend and gained confidence as the benchmark KSE 100-index rose by 93.34 points or 0.29 percent to reach 32,177.50 points in early trading on Wednesday.

After a cheering start, bears crept into stocks, not only eroding the early gains but plunged the KSE 100-index once again below 32,000 to 31,895.57 points with a considerable loss of 188.59 points or 0.59 percent till midday trading.

As a whole 12.85 per cent of companies witnessed increase in their shares while 45.80 per cent lost their share value and 2.47 percent companies remained stable.

High and Low were 32186.57 and 31760.72 respectively. Total volume traded in the market was 173,168,290 shares.

The market opened at the overnight closing of 32,084.16 and the index kept ticking upwards, adding to the overnight modest gains. As the political temperatures seemed to have been simmering down, nervous investors took heart and resumed buying, especially in green chips.

The sentiments remained positive which helped the index rose from the red zone.