KSE-100 sheds 260 points in volatile trading
Statesman Report
KARACHI: After a day’s respite, the benchmark KSE-100 index once again entered negative territory on Wednesday, shedding 260 points in volatile trading.
A retreat in Asian markets, coupled with falling global crude oil prices, took its toll on Pakistan Stock Exchange (PSX) as investor sentiment weakened.
Furthermore, there was uncertainty among investors ahead of the upcoming meeting of Organisation of the Petroleum Exporting Countries (OPEC) and other producers over the issue of crude oversupply and plunging prices. They also awaited the G20 huddle.
At close, the benchmark KSE-100 index recorded a decrease of 260.28 points, or 0.83%, to settle at 30,971.27.
Arif Habib Limited, in its report, stated that overnight pressure on international crude prices had an impact on the KSE-100 index as well.