Bourse nose-dives below 8,000 | Daily News

Bourse nose-dives below 8,000

Bourse continued its downfall for the second consecutive session, dipping below 8,000 after almost 3-weeks. Index nose-dived within the first few minutes of trading, hitting its intraday low of 7,853. Subsequently the market bounced back and experienced a wave pattern for the rest of the session and closed at 7,964 losing 149 points.

Capital Goods sector took over the lead of the turnover followed by Diversified Financials making a joint contribution of 50%. Foreign investors continued to be net sellers while recording low participation.

Meanwhile in the secondary market yield curve continues to witness an upward pressure while overall market witnessed limited activities amidst thin volumes.

Selling interest was seen on shorter tenors 15.03.22 trading at 5.30%, 01.09.23 at 5.93%, 01.10.23 at 5.95%, 01.12.24 traded in the range of 6.51%-6.54% levels, 01.05.25 traded in the range of 6.85%-6.80% levels, in addition, long tenor maturities 15.08.27 traded at 7.30% and 15.05.30 traded at 8.00%. (FC Research)