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Closing: KSE loses 93pts, down 0.30% to close at 31223.7pts ahead of PTI big show

Closing: KSE loses 93pts, down 0.30% to close at 31223.7pts ahead of PTI big show

KARACHI: The Karachi Stock Exchange lost another 93.22 points or -0.30 percent to reach 31223.74 points and volume of 103,084,430 shares on Tuesday as PTI going to organize ‘big’ public meeting in Islamabad on Nov 30 this week.

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

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 183 points to slide to 31133.77 points from overnight closing of 31,316.96 points in early trading on Tuesday.

As a whole 24.63 per cent of companies witnessed increase in their shares while 29.23 per cent lost their share value and 3.28 percent companies remained stable.

High and Low were 31318.49 and 30942.88 respectively. Total volume traded in the market was 103,084,430 shares.

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.