Pakistan Stock Exchange reaches the year low level amid political turmoil
KARACHI - The KSE-100 index has reached a year low level at 39890.05 points. The highest level has been recorded at 41179.88, while the lowest level is 39869 till midday trading.
Regional Head – North at EFG Hermes Pakistan Limited Arslan Khan said that the negative trend was ruling the market after the case of former prime minister Nawaz Sharif was started at the accountability court.
He said that the investors are not showing interest in the market owing to prevailing political stability in the regions, adding that it may continue till the insecurities exist.
Khan also termed dip in exports of cement sector a major reason behind the crash of market, adding that most of traders were showing interests in selling the shares of cement sector causing vulnerability in the market.
On Tuesday, All Pakistan Cement Manufacturers Association (APCMA) issued statistics of the sector stating a decrease of 23 percent was observed in cement export in September recording its current level at 0.401 million tonnes, while its year-on-year sale went up by 10 percent to 2.798 million tonnes during the same month.