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KSE 100-index down by 35pts, 0.10pc as Nov 30 ‘showdown’ getting nearer

KSE 100-index down by 35pts, 0.10pc as Nov 30 ‘showdown’ getting nearer

KARACHI: Stocks failed to cash in on the euphoria incited by Pakistan’s successful return to the international sukuk market after a gap of nine years and the benchmark KSE 100-index fell 35 points or 0.10 percent to come down to 31237.83 points in early trading on Friday.

The KSE-100 index started trading at overnight losing of 31,270 and failed to pick up momentum. The investors and brokers exercised caution on the back of political uncertainty, limited foreign interest and uncertainty in global stocks and commodities.

The fast-blurring political scenario kept the market under pressure and shook the confidence of the investors.

Analysts believed that bears took hold of the market, reacting to the statements of the interior minister that suggested that the government would clamp down on Pakistan Tehreek-i-Insaf protesters on Nov 30.