KSE-100 index loses another 84 points

Amanullah Khan

Karachi

KSE-100 Index which passing through a bearish spell dipped by yet another 84 points to close in red at 48605 levels here on Wednesday.
According to market analysts, the stakeholders preferred to post profit which led to a selling pressure forcing the index to close in red.
Amid an improved market volume of 260 million all shares the K-Electric was the volume leader of the day with a trade of 32 million shares to its credit, the other two volume leaders of the day were including Engro Polymer with a trade volume of 25 million shares and TRG with24 million shares to their credit respectively.
Meanwhile, the international oil prices fell for the third straight session on Tuesday to US$47.34/bbl as global supply glut continues to weigh on prices. The losses, however, were recovered after API showed a surprise fall in US crude oil stocks of 4.2 million barrels this week. Market is awaiting EIA’s crude oil inventory data for future pattern of trade.

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