Business Recorder
A day after historic buying, selling pressure returned at the Pakistan Stock Exchange with the benchmark KSE 100 index shedding over 1,000 points during the trading on Thursday. At 11:09am, the benchmark index was hovering at 165,704.56, down by 106.44 or 0.06%. Meanwhile, selling pressure was observed in key sectors, including automobile, chemical, and commercial banks. Index heavy stocks, including Atlas Honda Ltd, Dewan Motors, Fast Cables Ltd., and Allied Bank Ltd traded in the red. On Wednesday , the benchmark KSE-100 Index surged by an unprecedented 14,137.55 points or 9.32 percent to close at 165,811.01 points. Internationally, Asian share markets were in a more sober mood on Thursday as cracks quickly began to appear in the fragile Gulf ceasefire, nudging oil prices back up and reminding investors the inflationary fallout will last for a long time yet. As a result prices for US crude futures edged up 2.8% to $96.99 a barrel, while Brent rose 2.1% to $96.74. Japan’s Nikkei dithered either side of flat, after jumping 5.4% the previous session. South Korea dipped 0.4%, following a leap of 6.8%. MSCI’s broadest index of Asia-Pacific shares outside Japan eased 0.3%. On Wall Street, S&P 500 futures and Nasdaq futures were both off 0.2% as Wednesday’s surge petered out. For a mixed Europe, EUROSTOXX 50 futures inched up 0.1%, DAX futures fell 0.3% and FTSE futures rose 0.5%. This is an intra day update
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