The Karachi stock market continued to remain under selling pressure on Thursday following prevailing uncertainty over legal outcome of the presidential order for raise in petroleum prices as petroleum development levy (PDL) after SC ordered suspension in implementation of carbon surcharge. The Karachi Stock Exchange (KSE) 100-share index lost 46.10 points or 0.62 percent to close at 7,430.01 points as compared to 7,476.11 points of the previous trading session. The KSE 30-share index shed 63.84 points and closed at 7,956.56 as compared to 8,020.40 points. The KMI 30 index also decreased by 36.78 points to close at 11,171.62 points as against 11,208.40 points. “Despite opening on a positive note, the market remained under pressure due to uncertainty regarding the relationship between the judiciary and government on oil pricing,” said analyst at Toplien Sec Mohammad Sohail. “Some pressure in oil stocks was also seen due to declining global oil prices.” The market turnover went up by 22.0...
Pakistan's First Online Newspaper on Stock Market.......Pakistani Capital Markets, Pakistani Companies News, CDC Pakistan, SECP News, Foreign Investment in Pakistan, KSE News, Capital Gain Tax, PSO, ODGC, NBP, MCB, PPL, APL, NESTLE, HBL, UBL, ABL, ICI, ENGRO, Jahangir Siddiqui Co, DGKC, Pak Oil Field, BOP, PTCL, Nishat Mills, Arif Habib, Aqeel karim Dhedhi, Askari Bank, Rafhan, Unilever Pakistan, Packages, PIA, PNSC, Pak Suzuki, National Foods