KSE-100 Falls 1,117 Points as Energy Stocks Drag Market

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Karachi: Trading at the Pakistan Stock Exchange (PSX) ended on a negative note on Tuesday, with the benchmark KSE-100 index closing at 177,083.22 after falling 1,116.80 points on selling pressure from investors.
The KSE-100 index touched a high of 178,768.83 and a low of 177,043.10 during the trading session, while the market recorded an overall decline of 0.63 percent. The index’s share volume stood at 263.77 million shares.
The prominent stocks that contributed positively to the market included MEBL, PSO, KAPCO, POWER and MTL, which helped keep the index higher. On the other hand, UBL, ENGRO, OGDC, LUCK and PPL were the most pressured stocks, due to which the market closed in the negative zone.
On the other hand, the KMI-30 index also remained under pressure and closed at 249,402.60 after a decline of 1,875.51 points. The index recorded a decline of 0.75 percent while the trading volume remained at 98.38 million shares.
In KMI-30, MEBL, PSO, SSGC, SNGP and FFL were the top performers, while ENGRO, OGDC, LUCK, PPL and EFERT had the most negative impact on the index.
According to market experts, the selling trend in energy and large companies kept the overall market under pressure, while investors are keeping a close eye on upcoming economic indicators and corporate results.