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Closing: KSE extends slide as rift grows between MQM, PPP

KARACHI: The Karachi Stock Exchange (KSE) 100-index lost 16.85 points to reach 29694.27 points and volume of 71,040,950 shares on Tuesday.

Earlier, benchmark KSE 100-Index took a good start and gained 142 points to reach 29853.55 stage with the total volume of 16,142,400 shares.

After five consecutive bearish days, Karachi Stock Exchange 100-Index Tuesday witnessed positive rally and gained 73.37 points to reach 29784.49 points with the total volume of 32,154,400 shares till midday.

The highest increase witnessed in price of the Pace (Pak) Limited, P.T.C.L.A, D.G.K Cement XD and Fatima Fertilizer Company, while the Pak Services, Bata (Pak) Limited, Bhanero Tex XD and Wyeth Pak Limited remained the biggest losers of the day.

As a whole 26.78 per cent of companies witnessed increase in their shares while 32.40 per cent lost their share value and 2.64 per cent companies remained stable.

High and Low were 29928.22 and 29640.34 respectively. Total volume traded in the market was 71,040,950 shares.

Financial experts were of the view that MQM’s decision of quitting Sindh coalition government has added fuel in the continued political turmoil in the country, which has gripped the stock markets and the index witnessed negative trend in trading during almost the whole last week and first day of current trading week.

100-index Bata (Pak) Limited Bhanero Tex and Wyeth Pak Limited Pakistani Rupee brecorder Commerce Ministry Custom D.G.K Cement Fatima Fertilizer Co FBR Finance Ministry Financial Index investment Karachi Stock Exchange-100 Index KSE market monetary policy P.T.C.L.A Pace (Pak) Ltd Pakistan Budget 2014-2015 Pakistan Custom’s Pakistan Tehreek-e-Insaaf (PTI) chairman privatisation shares stocks tax lawyers the Pak Services Trade Statistics and analysis 2014-10-21
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