Index loses 235 points on profit-taking
KARACHI: Equities came under pressure on Thursday as the deafening noise on the political front forced investors to scurry for profit-taking.
The KSE-100 index opened marginally positive, but soon succumbed to selling pressure. It closed down by 235.47 points (0.54 per cent) at 43,395.28.
Selling was witnessed across the board. Optimists like Arif Habib Securities saw it as a minor correction, but Topline Securities reckoned the index was consolidating at the current level.
The volume, although down by 2.5pc over the earlier day, remained healthy at 319 million shares, which showed that investors’ interest was intact.
Sui Southern Gas Company (SSGC) and K-Electric took the spotlight as the former traded at its upper circuit while the latter was down on speculations about the approval of an unfavourable multi-year tariff.