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Closing: Political uncertainty pushes KSE down 97 points

Closing: Political uncertainty pushes KSE down 97 points

KARACHI: The Karachi Stock Exchange (KSE) 100-index opened at a bearish note on Friday and went down by 97.89 points to reach 29506.41, as political strife still haunted the federal capital.

The highest index was witnessed at 29659.91 points, while the lowest level was recorded at 29467.97 points. Trading volume decreased to 35,105,980 shares in stock market.

Experts were of the view that confusion prevailed in the stock market as Chinese President Xi Jinping has postponed his visit to Pakistan. “Uncertainty still hovered over the political horizon despite ongoing talks between the government and Pakistan Tehreek-e-Insaf chief Imran Khan.

They said that the market will continue to exhibit volatile moods forming its overall direction as the political drama continues to unfold.

As a whole, 25.99 percent companies witnessed increase in their shares while 25.33 percent companies lost their share values and 3.15 percent companies remained stable.

The highest increase witnessed in price of Fauji Cement, Telecard Limited, Jah Sidd Company and Engro Corporation while the Unilever Pakistan, Siemens Pakistan, Shield Corporation and Millat Tractors Limited remained biggest loser of the day.