KARACHI: The stocks again started week with negative note as the Karachi Stock Exchange benchmark KSE-100 index lost 225.30 points to drop to 32535.65 points level in early trading.
Last week, political unrest and concerns over NAB investigations against brokers and industrialists kept sentiments jittery at the Karachi Stock Exchange (KSE) as average trading volumes plummeted to 17-weeks low of 135 million shares per day.
Moreover, fears of continuous foreign selling and uncertainty over Fed interest rate hike in the region further deterred fresh buying in the market. As a result, the benchmark KSE-100 index closed lower at 32,761, down 2.7 percent WoW. Of the major sectors, E&Ps fell by 5.4 per cent WoW despite rebound in international crude oil prices (+5 per cent WoW to $47/bbl), while banks declined by 4.2 per cent WoW following a cut in policy rate.
