Peshawar blast shockwave hits Karachi Stock Exchange

Bears extended their stay at Karachi Stock Exchange (KSE) on October 28, 2009 where market shed over 63 points to end below 9,300, levels on selling pressure due to blast in Peshawar after a promising start in the morning.

The benchmaark 100-index declined by 63.85 points or 0.69% to end at 9,251.84 levels 30-index plunged by 74.87 points or 0.76% to close at 9,754.62 levels, whereas all share index shed 39.88 points or 0.60% to finish the day at 6,753.75 levels.

Market from the begining stayed in greet zone as better result expectation dominated the rally expectation dominated the rally, which in later session was materialised as all major companies posted above expectation profits. But later in the session blast in Peshawar followed by selling pressure in regional markets restricted investors to adopt wait and see strategy.

Market started on a positive noted ad soon index touched its intraday high of 9,364 points positive 49 points. Thereafer marekt showed some mixed activities where it remained inthe positive zone for most of the time as good corporate results and continued foreign buying supported the market. However, blast in Peshawr invited selling pressure which send the index deep into the red zone where at about negative 77 points.