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KSE-100 suffers massive losses of 814pts, down 2.57% over Peshawar school attack

KSE-100 suffers massive losses of 814pts, down 2.57% over Peshawar school attack

KARACHI: The Karachi Stock Exchange benchmark KSE 100-index Tuesday lost massive 813.82 points or 2.57 percent to reach 30876.28 points, shedding 31,000 status on volume of 186,128,710 shares after Taliban attack on Peshawar Army Public School, in which 141 people including 132 children were killed.

Although the KSE-100 index up by 100.28 points or 0.32 percent at 31,690.10 at closing on Monday, stock failed to consolidate its gain and shed points at the start. The market opened at overnight closing of 31,690.10 points and remained in negative zone on the investors’ anxiety over different factors including political unrest. On Monday the market lost considerable points in the opening but later received strong support from Non-Bank Financial Institutions (NBFCs) which absorbed $12.24m worth stocks on Monday

Skeptical Karachi Stock Exchange benchmark 100-index plummet record 454 points or 1.43 percent to 31235.96 points due to vagaries till midday.

As a whole 8.39 per cent of companies witnessed increase in their shares while 50.99 per cent lost their share value and 2.56 percent companies remained stable.

High and Low were 31716.79 and 30808.33 respectively. Total volume traded in the market was 186,128,710 shares.

Analysts think otherwise as they are of the view that favourable CPI Inflation data, stronger rupee parity against dollar on expected $2bn oil import bill reduction, upbeat cement sales data for Nov 2014, rising trend in DAP sales and concessionary gas to selected fertiliser units played a catalyst role in bullish activity at KSE despite concerns for rising receivables in energy sector and political protests in Punjab.