Stocks Observer. com

Bears continued to reign at the Karachi stock market on the first day of the trading week Monday on account of selling pressure spurred by liquidity crunch and expected prevalence of tight monetary policy scheduled to be announced on the 31st, said analysts. The Karachi Stock Exchange (KSE) 100-share index shed 231.18 points to close at 5,280.75 points as compared with 5,511.93 points traded in the previous session. The KSE 30 index also lost 263.51 points and closed at 4,954.02 points as compared to 5,217.53 points of the previous session. KMI 30 index declined by 292.75 points and closed at 6,589.94 points as against 6,882.69 points of the previous session. The market turnover went up by 5.06 percent to close at 75.98 million shares as compared to previous session’s 72.26 million shares. The overall market capitalisation fell by 3.78 percent and closed at Rs 1.677 trillion as compared with Rs 1.743 trillion traded in the previous session. Out of 252 companies, 60 closed in the positi