Stocks Observer. com

KARACHI: Karachi stock market remained under bearish sentiments as the benchmark KSE-100 failed to maintain psychological level of 7,000 points on fourth trading day of the week Thursday. The intense selling activities blanketed the trading session and analysts attributed negative closure of the market owing to rumours regarding additional taxation on capital market in the upcoming federal budget. “This affected the investors’ sentiment negatively amid a misquoted comment by State Information Minister on taxation of agriculture, stock market and real estate sectors”. The Karachi Stock Exchange (KSE) 100-share index shed 90.90 points or 1.29 percent as it closed at 6,969.82 points compared to 7,060.72 points in the previous session. The KSE-30 index also shed 108.06 points and closed at 7,484.10 points compared to 7,592.16 points of the previous session. KMI-30 index shed 99.38 points and closed at 10,017.32 points compared to 10,116.70 points of the previous session. The market turnove...