Quantcast
Tuesday , August 22 2017
Breaking News
Home / Markets / KSE extends overnight losses; down with 11pts or 0.04% to 31895pts

KSE extends overnight losses; down with 11pts or 0.04% to 31895pts

KARACHI: Overnight bearish trend continued in the Karachi Stock Market as benchmark 100-index lost another 11.21 points or 0.04 percent to slide to 31895.33 points in early trading on Tuesday.

The market opened at the overnight closing of 31,906.74 points and remained in negative zone, failed to boost confidence of the investors. The 100-index fell to 31895, adding to the prevailing uncertainty in the market.

It is to be noted that the benchmark KSE 100-index lost 86.27 points to close at 31,906.74 points level on Monday.

According to experts, trade remained high with limited foreign interest as global equity and commodities remained in pressure after WTI crude oil prices fell below $55/barrel. Reports for falling local cement prices and concerns for heavy circular debt in energy sector played a catalyst role in bearish activity at KSE.

Analysts are of the view that the investors remain cautious with the government and PTI talks not yielding any agreement on how to conduct a review of election results.