KSE-100 Index closed down 1.64 percent at 37,715 points level as most of the Index heavy scripts traded under pressure. The market witnessed high volatility from the start of the session, making an intraday high and low of 38,365. 32 and 37,582.69 points. The negative sentiments persisted in all Asian stock markets where the lackluster cues began from Wall Street amid rising geopolitical tensions around the world and on worries about Italy’s budgetary woes as well as Brexit. The Prime Minister’s comment that the next 3-6 months will be tough further added to the bearish sentiment. The earnings season also contributed to the losses. A number of corporate results were announced today with Kot Addu Power KAPCO PA +1.42% reporting first quarter FY19 EPS of Rs3.5. Kohat Cement announced EPS of Rs2.6. However the major disappointments for the market were Pak Suzuki Motor Company and National Bank of Pakistan. Economic Coordination Committee (ECC) is schedule to meet today to review and finalize modalities pertaining to issuance of NOC to Shangai Electric Power (SEP) for the purchase of 66 percent holding of Karachi Electric Limited and decide on the pending increase in electricity tariffs. “All eyes would be on the ongoing PM visit to Saudi Arabia – any development on potential flows for Pakistan’s ailing reserves and/or facility for deferred oil payments would lift investor sentiments going forward, ‘We however believe that potential flows, if any, are unlikely to be meaningful enough to avoid an IMF Program”, said Elixir Research’s analyst Murtaza Jafar. Published in Daily Times, October 24th 2018.