KARACHI: The Karachi Stock Exchange shed mammoth 770.08 points or 2.19 per cent to drop to 34449.51 points level till midday on Friday, the last trading day.
The stocks recorded highest level of 35278.88 points and lowest level of 34447.80 points as the total volume remained 99,655,780 shares, having Rs5,521,890,096 value.
On Thursday, the KSE closed bearish amid investors’ fears for foreign selling as a result the KSE-100 Index dropped 242 points or 0.68pc to close at 35,219.59 points.
Weak earnings outlook in oil sector after WTI crude plunge below $41/barrel, dismal large scale manufacturing growth data at 3.3pc, rupee depreciation, monthly decline in banking sector deposits by 5.25pc and concerns for major fall in global stocks and commodities caused bearish activity.
