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KSE again starts trading with negative mood; 100-index loses 65pts

KSE again starts trading with negative mood; 100-index loses 65pts

KARACHI: The Karachi Stock Exchange took another negative start on Friday as 100-index lost 65.28 points to drop to 33038.45 level, with total volume of 24,615,790 shares in early trading.

On Thursday, the KSE gained 108.36 points or 0.57 percent to reach 33103.73 points and volume of 109,670,100 shares.

Analyst Ahsan Mehanti at Arif Habib Commodities said pre-budget uncertainty and minor change in the MSCI review results for May instigated profit-taking.

However, “support remained in the oil and gas stocks as the West Texas intermediate trading above $61/barrel and an increase in local gas prices is expected,” Mehanti said.