KARACHI: Bears reigned the bourse here Friday as KSE-100 index lost 202.91 points to close at 33,672.49.
Since the SBP is going to announce monetary policy on Tuesday 16th of July (2019), the traders are spooked expecting higher rates because now the government of Pakistan after bowing before IMF is forced to obey its orders.
Then the VideoLeaks and other political vicissitudes have also jolted the confidence of the investors.
Stocks that plummeted included PSO, Engro Corporation, Hub Power, Pakistan Oilfields & DG Khan Cement. Companies that managed to gain in this gloomy milieu included Fauji Feriliser,Engro Fertiliser, UBL, HBL and Meezan Bank.