KSE index tumbles down to nine months’ lowest

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KARACHI: Karachi Stock Exchange (KSE) Friday nose-dived to nine months’ lowest, as the investors felt terrorized by the news that kept pouring in relating to the unabated horrible killings and both the provincial and federal governments giving a blank look shattering confidence and sending the traders out of the trading arena shivering.

The trading began on a negative note, which further went depressed by the global stock markets’ continued slump that saw the KSE-100 index eroded by a huge 249 points and closing at 10,879, which is the lowest since November, 2010.

Turnover today stood at 40 million shares. Lotte (Pakistan)’s shares traded most, whose price up by 0037 paisa pegged at Rs10.76.

On the other hand, KSE-30 index plummeted by 267 points closed at 10,351 points.

Market analyst, Muhammad Sohail attributed main reason of the Friday fall in KSE to the global stocks’ strongly negative indicators that sent the local and foreign investors shaky who thronged the market for unloading their overbought shares.