KSE 100 index dips by 205 points

Amanullah Khan

Karachi

KSE 100 Index experienced a volatile trading session dragging the index by 205 points by closing at 49958 levels here today.
According to market analysts the market witnessed across the board profit-taking leading the benchmark index to close in red amid low mark volumes of 268 million shares.
The international oil prices also dipped as a result of after a noticeable rise in American crude inventories. The heavy oil based and financial sector stocks were the contributor to drag the index. It may be noted that the heavy stocks especially financial sector attracted the investors some however compared with other sectors.
Among the volume leaders of the day the Bank of Punjab remained on top of the list in terms of volume with 25.9 million shares, the other volume leaders of the day wee including Power Cement (right shares) with 25.6 million shares, and Dost Steels with 22.5 million shares.
However one of the positive signs was entry of foreign institutional investors who were net buyers of Rs1.541 billion during the trading session.

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