Stocks Observer. com

Bears continued to dominate the trading session at the Karachi stock market on Friday as investors kept on offloading their holdings, analysts said. The reasons for the negative closure of the market intense selling pressure spurred by liquidity crunch, margin calls on brokers, Pak-India tensions and SECP calls on records of brokers’ clients. The Karachi Stock Exchange (KSE) 100-share index shed 266.65 points to close at 5,511.93 points as compared with 5,778.58 points traded in the previous session. The KSE 30 index also lost 292.94 points and closed at 5,217.53 points as compared to 5,510.47 points of the previous session. KMI 30 index declined by 366.67 points to close at 6,882.69 points as against 7,249.45 points of the previous session. The market turnover went down by 40.82 percent and traded 72.26 million shares as compared to previous session’s 122.11 million shares. The overall market capitalisation fell 4.28 percent and closed at Rs 1.743 trillion as against Rs 1.821 trillion