Stocks turn in depressed performance

KARACHI: After scaling an all-time high overnight, the benchmark KSE 100 index faltered despite a positive start on Tuesday amid reports of oil refining units shutting down and Shanghai Electric Power’s withdrawal of an offer to buy K-Electric.

Ahsan Mehanti of Arif Habib Corporation attributed the depressed market performance to the expectations of prudent SBP monetary policy announce­ment next week ahead of new IMF loan talks and strong opposition to the petroleum price deregulation...