KSE-100 falls 170 points

Staff Reporter

Karachi

The KSE 100-share Index fell for the third consecutive day and went below 41,600 points as political uncertainty and economic downturn prevented investors from taking fresh positions.
An extension in the tax amnesty scheme also failed to spark enthusiasm among investors who failed to make positive contribution to the stock market.
The bourse kicked off trading on a negative note, falling more than 200 points in the initial hours. However, volatility soon took over and the market oscillated throughout the day to finally close in the red. Automobile stocks took a hit as majority of them moved down.
At close on Tuesday, the benchmark KSE 100-share Index recorded a decrease of 169.63 points or 0.41% to settle at 41,564.42.
JS Global analyst Maaz Mulla said Pakistan bourse largely struggled for the second day of the week and closed at 41,564, down 170 points.
“Investors continued to fret over political uncertainty and economic slowdown. Volumes remained low as 104 million shares changed hands,” he said.

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