KARACHI: The Karachi Stock Exchange (KSE) 100-index dropped 352.41 points on Monday to stand at 28519.34 points on the first day of the new business week because of Imran Khan and Tahirul Qadri’s sit-ins, demanding resignation of Prime Minister Nawaz Sharif.
The stock market opened at 28871.7 points after two days of closure on the weekend. During the whole day session, not a single green move was observed. Rather stock graph gradually went downward losing 352 points to end at 28519.34. The total volume was 47,196,680 shares on Monday.
The Pace (Pak) Ltd, PTCLA, DGK Cement and Fatima fertilizers were in safe zone during today’s trading while Pak Services, Bata (Pak) Ltd, Bhanero Tex and Wyeth Pak Limited were the losers of the day. Total 11.40 companies have recorded increase in their share values while 31.74 showed decline in their values and 2.98 remained neutral in the trade session.
The prolonged sit-ins were worsening the confusion in the stocks and graph has been going down with every passing day. Experts were of the view that the government should encourage more foreign buying to save the market from a possible crash. They also appealed to the protesting parties and government to resolve the issue as soon as economy of the country has been suffering billions of losses.
