More fall expected as Karachi stock market sheds 372 points

Tuesday was the second consecutive day when all bourses in the country dipped down after the removal of ‘floor’ mechanism on the order of SECP. Karachi Stock Exchange (KSE) again Tuesday witnessed some panic trading activities after yesterday tumbled and shed 372.21 points, surpassing 2.21 points compared to Monday business while the Islamabad Stock Exchange (ISE) also recording 5 percent lower locks sent the trading suspended whereas analysts foresee that the market would fall further over the next few days.

KSE bourse was opened with a negative note, which remained continue all along the day, as there was no news regarding market supporting fund. The wave of uncertainty prevailed throughout the day investors tried their best to sell their assets on throw-away prices but there were hardly any buyers who willing purchase shares despite their lowest values.

The bearish phenomenon yesterday had pulled down the market from 9000 psychological barrier but it seems that within few days the bourse might come near 6,000 barrier. While peeling 372.21 points KSE-100 index today wrapped up at 8,444.89 points.A senior analyst was of the view that unless marketing supporting fund would not poured in the market, bearish trend would intact the markets even in the future also.

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