KARACHI: The Karachi Stock Exchange (KSE) 100-Index continued to fall for the third consecutive day on Wednesday as it tumbled 432.24 points to touch 27,811.35 at the end of the day.
The KSE has dropped at least 1,079 points in three days due to political deadlock in the capital city where Pakistan Tehreek-e-Insaf chief Imran Khan and Pakistan Awami Tehreek chief Tahirul Qadri have launched sit-ins and are demanding Prime Minister Nawaz Sharif’s resignation. Dismal current account data, expected fall in remittances due to ongoing political crisis and reluctance of foreign investors to invest stimulated the bearish trends in the bourse.
The Karachi stocks plummeted by 432.24 points at closing of the day, recording a minus 1.53 percent change. The KSE touched the highest mark of 28,307.89 and then nosedived to the lowest ebb of 27,584.79. Total volume of shares traded was 94,802,510 at a value of Rs 5,858,954,641.
The highest increase witnessed in price of the Fauji Cement, Telecard Limited, Jah.Sidd. Co and Engro Corporation while the UniLever Pak, Siemens Pakistan, Shield Corporation, and Millat Tractors Ltd remained the losers of the day.
As a whole, 13.08 per cent of companies witnessed increase in their shares while 36.42 per cent lost their share value and 1.99 per cent companies remained stable.
