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KSE-100 Dropped 392 Points due to Profit Selling

bySidra Butt
December 30, 2020
in Business, Finance, Main, New
Reading Time: 1 min read
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Stock Market lost the Bullish fervour today, where the KSE-100 index dropped 392 points. The KSE-100 rose to the intra-day high to about 238 points. Since most of the cement, steel and technology sectors reached their 52-week high, the KSE-100 dropped due to the selling pressure.

The analyst from Arif Habib Ltd explained, “The market was dominated by mark-to-market activity by institutions (as Tuesday’s settlement falls on Dec 31) as well as partly due to profit booking”.

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The investors were found selling to the profits as they saw another buying oppurtunity on lower rates for the banks, cement, power, fertillizer and the production sector

Tags: EconomyKSEKSE-100Pakistan Stock ExchangePakistan Stock MarketPSEStock ExchangeStocks
Sidra Butt

Sidra Butt

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