KSE 100-index ends at near 9-mth low
Page 1 of 1 • Share
KSE 100-index ends at near 9-mth low
[You must be registered and logged in to see this image.]
KARACHI: The Karachi Stock Exchange's benchmark 100-share index closed 3.24 percent, or 369.25 points, lower at 11,034.92, its lowest close since Nov. 16, 2010, on turnover of 69.14 million shares. The KSE-index is down 8.2 percent this year.
Stocks fell more than3.2 percent and ended at an almost nine-month low, taking a cue from world markets. Dealers said healthy corporate results were unable to spark any investor interest, either.
"The fear that foreigners can also sell their Pakistani shares because of the continuous decline in regional markets forced investors to dump their shares," said Samar Iqbal, a dealer at Topline Securities Ltd.
World stocks sank sharply for a 10th session running on Tuesday, racking up a 20 percent loss since early May, as gold hit another record high in response to investors dumping riskier assets in highly volatile markets.
Dealers said strong corporate results from Pakistan Petroleum Ltd (PPL) and Pakistan State Oil (PSO) was not enough to restore the confidence of jittery investors. PPL reported on Tuesday a net profit of 31.44 billion rupees ($363.9 million) in the 2010/11 fiscal year (July-June), compared with 23.32 billion rupees ($269.9 million) last year.
PSO reported on Tuesday a net profit of 14.78 billion rupees ($171 million) for the 2010/11 fiscal year(July-June), up 63 percent from 9.05 billion rupees the previous year.
In the currency market, the rupee ended weaker at 86.41/44 to the dollar, compared with Monday's close of 86.37/43 because of higher import payments. The rupee hit a record low of 86.83 to the dollar on Monday.
Dealers said dollar payments are typically higher in July and August because of stronger oil demand and debt payments. (Reuters)
KARACHI: The Karachi Stock Exchange's benchmark 100-share index closed 3.24 percent, or 369.25 points, lower at 11,034.92, its lowest close since Nov. 16, 2010, on turnover of 69.14 million shares. The KSE-index is down 8.2 percent this year.
Stocks fell more than3.2 percent and ended at an almost nine-month low, taking a cue from world markets. Dealers said healthy corporate results were unable to spark any investor interest, either.
"The fear that foreigners can also sell their Pakistani shares because of the continuous decline in regional markets forced investors to dump their shares," said Samar Iqbal, a dealer at Topline Securities Ltd.
World stocks sank sharply for a 10th session running on Tuesday, racking up a 20 percent loss since early May, as gold hit another record high in response to investors dumping riskier assets in highly volatile markets.
Dealers said strong corporate results from Pakistan Petroleum Ltd (PPL) and Pakistan State Oil (PSO) was not enough to restore the confidence of jittery investors. PPL reported on Tuesday a net profit of 31.44 billion rupees ($363.9 million) in the 2010/11 fiscal year (July-June), compared with 23.32 billion rupees ($269.9 million) last year.
PSO reported on Tuesday a net profit of 14.78 billion rupees ($171 million) for the 2010/11 fiscal year(July-June), up 63 percent from 9.05 billion rupees the previous year.
In the currency market, the rupee ended weaker at 86.41/44 to the dollar, compared with Monday's close of 86.37/43 because of higher import payments. The rupee hit a record low of 86.83 to the dollar on Monday.
Dealers said dollar payments are typically higher in July and August because of stronger oil demand and debt payments. (Reuters)
Noor Bangash- Monstars
-
Posts : 868
Join date : 2011-07-13
Age : 34
Character sheet
Experience:
(500/500)
Similar topics
» KSE 100-index ends at near 9-mth low
» KSE 100-index sheds 167 points, ends at 12,098
» KSE 100-index ends 74 points lower
» KSE 100-index ends 0.14 points higher
» KSE 100-index ends flat on first day of new fiscal year
» KSE 100-index sheds 167 points, ends at 12,098
» KSE 100-index ends 74 points lower
» KSE 100-index ends 0.14 points higher
» KSE 100-index ends flat on first day of new fiscal year
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum
|
|
Sat May 04, 2024 11:49 am by ali001
» house disrepair claims
Thu May 02, 2024 4:29 pm by Ibad Khan Buledi
» Bounce n Bang: Physics puzzler
Thu May 02, 2024 11:39 am by ali001
» AIChatSY - AIChatbot Assistant
Wed May 01, 2024 10:48 am by ali001
» Storybook Magic App
Tue Apr 30, 2024 7:06 pm by ali001
» Flower Book Match3 Puzzle Game
Tue Apr 30, 2024 12:17 pm by ali001
» Avian Influenza Symptom in Chickens "Bird Flu H5N1 Virus" Vet learning materials, Poultry Farming
Sat Apr 27, 2024 9:57 am by Ibad Khan Buledi
» Aloha Planner - Note-Taker
Thu Apr 11, 2024 4:52 pm by ali001
» Streaming Guide Film TV Series
Tue Apr 09, 2024 9:39 pm by ali001