KARACHI: The Karachi STOCK EXCHANGE benchmark 100-index lost 1030.79 points or 3.44 percent to reach 28927.04 points and volume of 207,041,810 shares on Monday.
The KSE 100-index further down by 3.80 per cent or 1139.27 points to a three-month low at 28818.56 till the midday.
The Stocks remained under pressure for the first day of trading week with the total volume of 122,135,010 shares. The country’s biggest STOCK MARKET recorded highest level of trading at 29957.83 points and lowest level of 28816.71 points. Earlier, the benchmark KSE 100-index dipped 2.43 per cent, shedding 729 points to 29229.24 in early trading.
The stocks remained in bearish trend despite the central bank has injected Rs947.55 billion into the banking system to stabilise the sector. Moody’s has already revised the outlook on Pakistan’s foreign currency Govt bond rating to positive from stable, based on a strengthening external liquidity position and continued progress towards fiscal consolidation and structural reform.
The experts are of the view that the government decision to send Pakistani troops to Yemen for fighting against the rebels may have created chaos among the traders.
On Friday, the benchmark KSE-100 Index dropped by 721 points or -2.35 per cent to 29958.
The High and Low were 29957.83 and 28648.23 respectively with the total volume traded in the market of 207,041,810.