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KSE falls fearing more Pak-US tensions after TTP leader slaying
KARACHI: Fearing a spike in Pakistan-US tensions following Tehreek-e-Taliban Pakistan leader’s killing in a drone strike, wary traders opted to offload and as a result Karachi Stock Exchange (KSE) went down on Monday.
The benchmark KSE-100 Index lost 1.20 percent or 271.26 points to close at 22,377.83 mark.
Analysts say the market players feel that if tensions continue to rise, it will affect Pakistani balance of payments and local currency.
Among top losers, D.G. Khan Cement Co Ltd (DGKC) fell 2.86 percent to Rs68.60 while Engro Corporation Ltd lost 2.09 percent to closed at Rs121.15.
Courtesy www.geo.tv