KARACHI: After witnessing half-week-long bullish trend, the stocks Monday opened with negative note as the Karachi Stock Exchange dropped 46.90 points to reach 32661.01 level in early trading.
Last week, the Karachi stock market continued its downward spiral in the first half of the week with index shedding more than 1,000 points amidst persistent foreign selling and week sentiments prevailing among the local investors.
With sentimental concerns subsiding, value buyers made a surprise come back to recover 856 points in the last two trading sessions, restricting WoW decline to 0.8 per cent. On a sector level, industrial metals & mining topped the charts as it increased by 35.4 percent in the week followed by Forestry and electronic goods, which were up 1.6-3.0 per cent. On the flip side, oil & gas, multi utilizes and financial services fell by 3.6-3.8 percent, respectively.
