Pakistan Stock Exchange goes nose down

Pakistan Stock Exchange goes nose down

KARACHI: Pakistan equities dropped further with benchmark KSE-100 Index shedding another 1.8 percent in listless trading on Tuesday.

The market saw a lackluster session today, punctuated with low volumes and an overall negative sentiment. The index suffered an intraday low of 928 points, eventually making a partial recovery to close at 41,233, down 741 points.

The mood remained dampen as index heavy Habib Bank Limited (HBL) losing 5 percent closed limit down for second straight session following US regulator seeking to impose heavy fine on the bank; over 1.5 million shares traded off-market with most volumes going through at Rs 155/share, 21 percent below Tuesday's lower limit and 29 percent below Friday's close.

Wider market also carried bearish momentum and skidded lower with general lack of interest both from institutional and retail investors culminating in a dismal 130 million Volume on KSE All Index.