KSE-100 index loses 249 points

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Amanullah Khan

Karachi—KSE-100 Index plunged by 249 points as the correction dragged the index amid thin market volumes of 249 shares closing in red at 42,811 levels here on Tuesday.
The Bank of Punjab however bounced back as the volume leader of the day with a trade of 68 million shares closing at 19.52 with a gain of 0.80, while Aisha Steel and SSGC were the second and third volume leaders with respective trade volumes of 41 million and 29 million shares accordingly.
Meanwhile the volatile conditions prevailed in the international oil prices which fell early on Monday due to growing doubts that the world’s biggest oil producers would reach a deal to cut global output. However, the prices have rebounded strongly as traders anticipate an OPEC agreement on production cuts later in the week. Most analysts expect prices to remain volatile until the outcome is released from the meeting on Wednesday.