Spain's lofty targets to install wind farms and solar parks have caught the eyes of investors keen to deploy funds in a sector boosted by an international drive to cut planet-warming emissions.
Given the current volatility in the market around listed renewable energy companies and the foreseeable over-supply of stock market listings by other companies in the sector, now is not the right moment to list.
The indices slipped lower from the start of the day, as the benchmark KSE 100 index lost 1,206.20 pts to an intraday low of 44,315.43. It ended with a loss of 1,089.83 pts at 44,431.80 below the 45,000 mark.
Meanwhile, the KMI 30 index gained 1,295.15 pts closing at 75,111.70. While the KSE All Share index managed to gather 331.12 pts ending day at 31,081.32.
“I believe this is a synchronised sell-off and it was coordinated. The apex and frontline regulators should look into it,” said Najam Ali CEO Next Capital, while talking to a private channel.
At the time of filing this report, the index was being traded at 43,968.04 points showing a drop of 1083.02 points and a negative percent change of 2.4pc.
Japanese stocks have capitalised on an anticipated global rebound from the COVID-19 pandemic this year, with the abundance of cyclical shares, such as electronic parts makers, attracting global investors.