Karachi Bourse Loses 254 Points On Technical Correction

Karachi: Karachi market finally most awaited technical improvement of monetary policy announcement on Monday took place Tuesday by the State Bank of Pakistan. Across - the board's sales, price erosion, with medium business and noteworthy, the market index closed 2.64 percent shaved. Shares or 2.64 per cent KSE-100 index 254.67 points to 9409.58 and closed at a significant loss. Its junior partner, 30 per cent or 3.12 per share Sensex shed 325.41 points and ended at 10,109.88. Oil exploration and production companies, banks and telecommunications companies as a major market and bring down the contribution of the negative points in the double digits has played a major role. These were the major share of oil and gas development company, Pakistan Petroleum, National Bank, Bank MCB, Habib Bank and Pakistan Telecommunication Company. Analysts believe that investors adopted a cautious stance of monetary policy by SBP on the release of a statement Tuesday. Policy statement was expected to unveil any new problem, but to continue the current policy. In addition, the market last week with 13 points to 9700 levels above 23 per cent higher than a month had. The 23-cent benefit from a straightforward manner and that any major improvement for investors offloading a part of their holdings without in while there's nothing were enjoying this season. Discount rate cut 50 basis points from which hoped to see another section of analysts (SBP lending rate, which stands at 13 per cent ie present) capital reserve requirement (CRR) in the event with minor changes. Any positive change in policy statement, even small investors to motivate a buyer in the past two seasons as comeback stage as businesses, can be healthy, "he said. Ready on board turnover of 345.32 million shares a day, which is less percent was 450.99 million shares changed hands on the weekends, but 23 per cent was recorded. 3.50 million shares from 1.80 million in future business Friday for business shrank. Across the board price - total market capitalization, which R. S. 2, wiping out 729 billion from Rs66 billion decline as a result of erosion. Analysts said that the policy rate, global stock markets and international oil after June quarter results for the majority fall in prices due to negative sentiment had improved already announced significant changes in the KSE expect limited. Another analyst said sales of oil and gas exploration and oil marketing stocks kept the pressure standard, while relatively low multiples of the strength seen in the shares trade local but stored on dips, digestible. Triple-digit decline in almost all regions have a high cost stocks, especially banking and fertilizer under pressure, such permission normalize adjust monetary approach. A key feature of the initial depreciation at the end of the day with an hour into the blast still suggest variable improvement since then, a neutral nominal interest rates have declined. Banking stocks are stored at low price dips though invited, expected to be mainly due to regulatory changes to facilitate the banking sector. At the price of fertilizer sector and cement sector as the stock dips collection looked well. Monetary approach to unveiling the stock market in the short term quarter will set a trend (September) start making their own way in the end results, he said. A total of 202 stocks declined Actives 414, 194 shares advanced, while the remaining 18 shares remained unchanged. JS highest amount of Rs1.54 profit company, 16.96 million in 31 funds at the end, Lucky Cement 22.42 million Rs36.23 with a loss in the conclusion of DG Khan Cement 36.42 million Rs35.19 after the closure was seen 90 Money, Ah stop in 16.84 million Rs41.67 with a loss of Rs1.26 and Rs1.04 loss of Pakistan Telecommunication Company with 15.89 million Rs21.79 at the conclusion with the benefit of security Rs77. 26.