KARACHI: The bearish trend enter the last trading day of the week as the Karachi stocks continued to slash another 151.31 points to reach 32531.19 level in early trading on Friday.
On Thursday, the Karachi Stock Exchange benchmark KSE-100 index declined 285.76 points or 0.87% to close at 32,682.50 points. OGDC, PPL and POL declined by 3.8-5% on the back of oil price rout. Fertilizer stocks bore the brunt of a 5% drop in Urea prices to US$228/ton as investors expect that urea producers will not be able to maintain their margins. Of total 337 active companies in the session, 86 closed in green, 236 in red while 15 remained unchanged.
