Dismal weekend for Karachi Stocks (Pakistan)

Mixed activities witnessed at Karachi Stock Exchange (KSE) on the last trading day of the week as it ended with minor losses as investors went for booking profits owing to deteriorating security situation in the country.

The benchmark KSE 100 Index inched down 9.82 points or 0.11% to close at 9,59.18 levels, KSE 30-Index lost 20.48 points to finish the day at 9,662.87, wheareas KSE All Share Index marginally went down by 4.05 points to end at 6,513.12 levels.

Further eleborated that limited foreign interest, global equity markets uncertainties, high leverage cost and limited availabilty of leverage financing remained major concerns for investors througout the session despite strong results announcements in insurance, banking & cement sectors.

Trading activities started in the green zone with 32 points up, thereafter marekt remained in the positive zone throughout the first session but investors participation remained on the lower side. Index at one stage touoched its intraday high of 9,256 points plus 87 points , however some profit booking witnesed during the last one hour of the first session as investors were worried over the law and order situation in the country. Second session was not different story as index managed to stay in the positive zone increasing its gains and stayed positive during the major part of the session.