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KSE-100 Index remains almost flat at 31524.41 points over uncertainty

KARACHI: Extending over 817 points loss of the last session, the benchmark KSE-100 Index remained almost flat by losing only 0.57 point to reach 31524.41 points in the late-mid day trade as uncertainty prevailed in the market on Thursday.

However, the High and Low were 31607.81 and 31401.01 respectively while the total volume traded in the market was 46,395,580. The last session had closed at 31524.98 levels when the market movement took sharp swings as at one stage the index lost over 1100 points but later on recovered yet losing over 817 points which is biggest blow in the recent months.

The uncertainty may be attributed to political developments as well as gloomy atmosphere as protests continued following the killing of innocent people in acts of terror in Lahore and other parts of the country besides a grenade attack on a private school in Karachi the other day.

A report disclosed that during July to February of fiscal year 2015), the banks disbursed Rs 288.7 billion agricultural credit which is 57.8% of the overall annual target of Rs 500 billion and 32.3% higher than disbursement of Rs 218.3 billion made during the corresponding period of 2014.

Paring the initial loss of 71.73 points, KSE-100 Index plummeted to 31852.53 points from early-day level of 32270.53 points by falling 489.73 points or 1.51 percent till mid day trade.