KARACHI: Despite the market titans reporting some solid financial results, profit-booking continued unabatedly on Tuesday, and the rollover week effect also began to take effect later in the day.To settle at 42,190.02 points, the benchmark KSE-100 index dropped 157 points, or 0.37%.
The current rollover week, according to a post-market note by Arif Habib Limited, was one of the factors keeping the capital market under pressure.The firm stated in its report that “despite a flying start, the market failed to rise and spent the majority of the trading session languishing in the red zone.”
However, third-tier equities continued to lead in terms of turnover, the report said. This was true even when significant financial announcements were made throughout the session.Technology and communication (-111.9 points), cement (-46.6 points), auto assembler (-13.8 points), commercial banks (-11.9 points), and chemical were among the industries that held the index back (-10.9 points).
