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KSE observes another bearish morning; 100-index drops to 33000pts

KSE observes another bearish morning; 100-index drops to 33000pts

KARACHI: After witnessing ups and downs in trading during the previous week, the Karachi Stock Exchange again started week with the negative note as 100-index shed 38.94 points to drop to 33000.26 level, with the total volume of 11,869,300 shares.

During the last week, the stock market observed a bearish week as a number of unwanted events affected the benchmark KSE-100 index, resulting in a decline of 703 points (2.1%).

The week started off on a disastrous note after reports emerged that market brokers were under investigation for insider trading and the situation did not improve much later in the week following a terrorist attack in Karachi.

Average trading volumes held steady and were recorded at 191 million shares per day. However, average daily values dropped 9.5% and stood at Rs9.75 billion.