Karachi Stocks falls below 5,000 level

Bearish trend in Karachi Stock Exchange remained intact the whole business week including the last day Friday when bourse shed further 1.185 per cent following the selling of shares from foreign as well as local investors eventually sending the bourse below the level of 4-year level.

The Karachi Stock Exchange’s benchmark KSE-100 index shed 91.17 points to close at 4,929.54 points. Volume remained at 92.191 million shares slight down of Thursday 92.330 shares but far less than the average over 250 million traded daily last year.

The market open Friday with negative note and this trend prevailed in both two sessions and broke the psychological barrier of 4,000 points while once the market sank to over 115 points. However, the bourse at the end of the session recovered somewhat but remained negative.

While NIT head dispelling the impression said that full amount of Rs20 billion fund which was set for rescuing KSE out of crisis, has now been received and the fund is buying all the eight selected shares.

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