KARACHI: Due to continuous foreign selling, the Karachi Stock Exchange witnessed bearish activities as benchmark 100 index lost further 71.73 points or 0.22 percent to reach 32270.53 in early trade on Wednesday.
However, the High and Low were 32416.99 and 32228.58 while the total volume traded in the market was 9,983,350. The investors’ cautious stance pushed index down to two weeks low. In the last session, the index had fallen by 112.65 points to close at 32,342.26 points as compared to 32,454.91 of the previous session. The KSE-30 Index dropped by 123.81 points and closed at 20,684.29 points against 20,808.10 points of last closing.
A volatile trading at bourse with KSE-100 index testing two week lows as knee jerk reaction from continuous foreign outflow kept local managers nervous, as per an expert. He said, “We see benchmark to inch up and test 32,800 ahead of long weekend while turnover in broader market is expected to pick up post policy announcement on March 21. We expect market to remain dicey with a strong support at 32,200 points while foreign flows will determine the direction of the index.”
