KSE-100 Index loses 254 points

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Amanullah Khan

Karachi—The volatile oil market is sailing in troubled water for quite sometimes confronted with a 2 percent decline in oil prices which was taken as a cue by the global bourses including Pakistan Stock Exchange which dipped by 254 points on reports of 2 percent decline in international oil prices on Friday. Almost half of the gains of KSE-100 Index in previous trading session were wiped away on the back of falling oil prices however the market volume of all shares at 529 million were impressive anyway.
The top performer of the day was TRG Pakistan with a trade volume of 58 million shares to their credit while Bank of Punjab stood at second position with a huge trade volume 54 million shares while Dost Steel which has emerged in the limelight for the last three four session was third best volume leader with a trade of 37 million shares to their credit. It may be noted that international oil prices fell about 2 per cent to $50.43/bbl in the previous session, weighed by a stronger dollar. The prices were also hit by the comments from Russia’s top oil producer that it could increase its production if required.

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