Pakistan Telecom bites bleed KSE index by 70 points to 8247
Pakistan Times Business & Commerce Desk

KARACHI: Etisalat failing to deposit the remaining PTCL bid amount landed Karachi Stock Exchange (KSE) today in such a state of disarray and depression that saw PTCL fast sliding down to its intraday lowest and losing Rs3 to close at Rs57.20.

KSE investors’ fears about PTCL deal seen coming true inflicted grievous injuries to the confidence of the bleeding bulls, who remained under severe pressure from the very beginning of the day’s business and index soon witnessed plummeting by 172 points.

However, National Bank, Muslim Commercial Bank and Pakistan State Oil’s satisfactory financial results timely came forward to rescue the market to recover some losses and restrained KSE-100 shares index finally shedding by 70 points to close at 8247.

Volume leaders D. G. Khan Cement gaining Rs1.65 closed at Rs92.65 and Fauji Cement up by Rs0.95 to Rs19.60.

Turnover today stood at 233.8 million shares, while in future contracts 62.5 million shares changed hands.●