KARACHI: The Karachi Stock Exchange Friday witnessed another bad trading day as the benchmark KSE-100 Index dropped by 721 points or -2.35 per cent to 29958.
The High and Low were 30828.20 and 29847.26 with total volume traded in the market of 150,933,140. All sectors took a hit, primarily led by cements, chemicals and banks. Another bearish session was witnessed at KSE ahead of quarter-end close with high trades amid investors panic on foreign selling.
Investors ignored the recent report of Moody’s expressing a positive outlook on Pakistan’s economic future. Moody upgrade on Pakistan bond ratings to positive and major success in ongoing anti-insurgents military offensive. Political uncertainty in Sindh impacted the sentiments. Late session interest in oil and fertilizer scrips after sharp recovery in crude prices, commodities supported the index to close above session lows.