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Midday: Bears rule stocks as KSE sheds 244 points

Midday: Bears rule stocks as KSE sheds 244 points

KARACHI: Bears kept the Karachi Stock Exchange (KSE) in red zone as the benchmark KSE–100 index plummet to 29461 points, shedding 244 points or 0.82 percent in the midday trading on Monday.
Earlier, the market opened on a negative note and fell down from the weekend closing of 29705 points. The stocks failed to cope with the bearish trend and kept on downward march. The investors appeared cautious and preferred to wait and see the trend.
Last week the market remained bearish and fell down below the 30,000 barrier.
Experts say that lack of triggers and limited foreign interest took toll on the benchmark index due to which the KSE-100 index failed to sustain its level above 30,000-point barrier.