KARACHI: Stocks plummet, extending losses as benchmark KSE 100-index lost 206.95 points or 0.64 per cent to fall to 31545.22 points till midday trading on Tuesday.
The buoyancy turned negative and the market failed to recoup overnight gains as benchmark shed 24.75 points to fall 31727.42 points in early trading. The market opened at overnight closing of 338.21 points level and fell. Although there was buoyancy, it turned sluggish and the index fell below to red zone, losing 207 points.
Govt’s imposition 12.5 per cent regulatory duty on the imports of tubes, pipes, hollow profiles of cast iron, and hollow profiles of iron or steel and flat rolled products of iron or non-alloy steel with the objective of protecting the local steel industry, criticised by the local industrialist.
The three top traded companies were Jah. Sidd. Co. with a volume of 21,950,500 and price per share of 20.10 (0.56), Pak Elektron with a volume 15,648,000 of price per share of 55.68 (2.37) and MapleLeafCement XD with a volume 15,355,500 of price per share of 57.90 (0.31).
