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Opening: Stocks widens overnight losses as KSE shed further 85pts

Opening: Stocks widens overnight losses as KSE shed further 85pts

KARACHI: Stocks remained bearish ahead of PTI’s call for a “historic” public meeting on Nov 30 in federal capital and widened overnight losses as KSE benchmark 100-index lost another 85 points to slide to 31,231 points from overnight closing of 31,316.96 points in early trading on Tuesday.

The market opened on negative note and remained bullish, forcing investor to exercise caution.

It seemed protest rally called by PTI, political uncertainty, limited foreign interest, uncertainty in global stocks and commodities, concerns for rising circular debt in energy sector and dismal data on current account deficit for Jul-Oct’14 played a catalyst role for bearish activity at the Karachi Stock Exchange.