12 Jul 2024: The KSE100 again failed to maintain the 80k level, which it had gained by reaching an intraday high of 83,322. It closed the day by losing 48 points, ending at 79,944.
The key event today was the market's reaction to the Supreme Court's decision to restore some seats to the PTI in a judgment announced today. Upon the announcement, which was seen as weakening the incumbent government, the market tanked over 1,200 points.
However, the recovery was quick, establishing the bullish trend in the market.
Today again local mutual funds were net sellers of over $1.4 million. There was no significant activity by the Foreign investors today.
This week, the market remained under selling pressure primarily from mutual funds and lost approximately 269 points for the week.
Major Gainers/Losers Today:
