The KSE-100 closed Monday at 167,970.66, down 2,541.20 points or 1.49 percent (PSX; Express Tribune).
Monday’s session
| | | |—|—| | Previous close (Friday) | 170,511.86 | | Day’s high | 170,437.73 | | Day’s low | 167,441.64 | | Close | 167,970.66 (-2,541.20, -1.49pc) |
The index never traded above Friday’s close. Oil was the stated cause.
Where the week now stands
| Session | Close | Change | |—|—|—| | Thursday 10 Sept | 168,865.04 | -3,078.55 | | Friday 11 Sept | 170,511.86 | +1,646.81 | | Monday 14 Sept | 167,970.66 | -2,541.20 |
Friday’s rebound came on reports of talks over the Strait of Hormuz. Those talks were then called off at Saudi Arabia’s request. The index has given back rather more than it gained.
This newspaper wrote on Friday that the market had moved on reports of talks rather than an agreement, and that “a rally on a headline is reversible by a headline”. It was.
Gold
Gold now stands at Rs453,336 a tola, down Rs3,800. Ten grams fell to Rs388,662, and the international price opened at $4,308 an ounce.
The ten-gram figure is consistent with the tola rate, and the fall reconciles exactly against Monday’s Rs457,136.
Tuesday, with the caveat that matters
At 1:10pm on Tuesday the index was at 169,713.54, up 1,742.89 points. That is an intraday reading, not a close — the market trades until 3:30pm, and we are publishing it with its timestamp attached rather than as a settled figure.
On 9 September an intraday print showed the index up 96 points and it closed down 698. A mid-session number can have the wrong sign, not merely the wrong size.
What is not established
Tuesday’s close will not be known until after the bell. No turnover or sector breakdown has been published for Monday’s fall.
[Image: The Express Tribune]
