Political disruption continues to distract as Stock Exchange loses 114 points


Amanullah Khan

Karachi—Volatile political disruption in Islamabad cast an adverse impact on trade activity at Pakistan Stock Exchange dragging the KSE-100 Index further down by 114 points to close in red at 39872 levels here on the last trading session of the week on Friday. According to a leading brokerage house, the index which is currently experiencing a difficult times may lose further unless the political dust is settled down.
However, the Bank of Punjab continued to retain its position as the best performer of the day with a trade volume of 47 million shares to their credit, while TRG Pakistan and K-Electric remain on second and third position respectively with trade volumes of 17 million and 14 million shares to their credit accordingly. Meanwhile, the international oil prices picked up again to $50.04/bbl in the previous session, breaking its three-day losing streak, after Energy Ministers from Gulf indicated their willingness to cut their production by up to 4 per cent to stabilize oil market. On contrary, countries like Iraq, Nigeria, Libya and Iran are probably not prepared to decrease their production as they had been hit by wars and sanctions.

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