KSE-100 down by 301 points

Amanullah Khan

Karachi

KSE-100 Index was again dragged by 301 points on the back of selling pressure to close in red at 51511 levels here on Wednesday. Although the index started on a positive note yet the investors who preferred profit making put the index into reverse with a drop of 301 points. In fact it was the banking sector responsible for the drop.
However the market volume remain intact at 371 million shares while World Calls managed to become volume leader of the day with a trade of 38 million shares to its credit. The other two volume leaders were including Dost Steel and LOTTE Chemicals with trade volumes of 25 million and 20 million shares to their credit respectively.
Meanwhile the international oil prices continue to surge higher after top oil producers agreed to extend cuts until the end of March 2018 in order to support oil prices. However, experts believe that OPEC members who are exempted from the cuts will increase their oil production and this could largely offset the benefits of the extended cuts

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