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Closing: KSE tumbles on 32,000pts rally, sheds 187pts to close at 31441.82pts

KARACHI: The Karachi Stock Exchange 100-index lost 187.38 points to settle at 31441.82 points and volume of 160,838,810 shares on Thursday.

Earlier, the Karachi Stock Exchange opened at the overnight closing of 31,629 points and continued the spree, adding to the joys of investors and brokers. The market appeared buoyant and steady, reflecting its resolve to cross the new highs. However, later market lost its early day gains and shed 187.38 points till end of trading day on Thursday.

It is to be noted that $7.63 million foreign inflows gave a big boost to stock values on Wednesday and local investors took comfort on the return of the overseas investors after profit booking for several weeks.

As a whole 26.27 per cent of companies witnessed increase in their shares while 37.93 per cent lost their share value and 2.13 per cent companies remained stable.

Trade volumes surged by 100 million shares over the earlier day’s trade and traded value also shot up by Rs6 billion, showing interest of the investors which was not sustained in later trading.

High and Low were 31855.83 and 31391.65 respectively. Total volume traded in the market was 160,838,810 shares.

Analysts said that post IMF and government meeting, the monetary and fiscal board officials revealed that the government had decided to keep monetary policy tight in FY15, although low inflation and improved balance of payment situation were indicating monetary policy easing.