Stocks slide further; KSE 95 points down

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Stocks slide further; KSE 95 points down

KARACHI: Share prices at Karachi Stock Exchange (KSE) registered further declines as the Index dipped to a three month low on Thursday.

The bearish spell at KSE is being attributed to the tumbling world stocks besides local investors have become cautious and concerned over security situation in Karachi, Pakistan's financial hub.

The Karachi Stock Exchange's benchmark 100-share index ended 0.80 percent, or 95.56 points, lower at 11,846.16,its lowest close since May 4.

Volume rose to 48.6 million shares, compared with 46.11million shares traded on Tuesday.

"Security concerns is at the top of the list for investors at this point," said Ashraf Zakaria, a dealer at Ali Hussain Rajabali and Co.

According to officials, more than 300 people were killed in Karachi in July alone -- one of the deadliest months in almost20 years -- and at least 40 people this week.

Dealers said a fall in global stocks also left foreign investors cautious. (Reuters)