Equities under pressure, 100 Index sheds 68 points

  

 

KARACHI: The local capital market witnessed selling pressure on Thursday suppressing the benchmark KSE-100 Index by 68 points to 13719.
The market opened positive to hit a day high of 13,836 but the momentum lost steam as energy shares fell following a decline in world crude oil prices.
But it wasn’t just the pressure from energy stocks, as dealers said political uncertainty also kept investors at bay.
Total trade volume shrank to 185 million shares, compared to an average of 238 million last week.
The broader market also stayed weak with 192 losers to 112 gainers.
Market analysts predict the market to stay in a narrow range on Friday, saying the investors are likely to stay on the sidelines.
However, they cautioned that any negative development on the political front may cause a further slide in the market.

World stock markets up today

 

KARACHI: Aiming to prevent the U-S economy from falling into a recession, the US Federal Reserve Bank has slashed its key short-term interest rate by a dramatic 3 quarters to 3.5 percent.
As a result, world stock markets opened today on positive trends.
The Asian markets also opened today on positive trends, with the The Hang Seng going up 1,150 points, the Nikkei up by 256.01 points while the sensex ended two days of heavy losses with a 772 point gain in morning trade.