KARACHI: The Karachi stock market fell on Wednesday in choppy trade as lower than expected result announcement by PSO propelled investors to offload their holdings. The Karachi Stock Exchange (KSE) 100-share index shed a massive 259.97 points or 3.32 percent to close at 7,574.17 points as compared to 7,834.14 points in the previous session. The KSE 30-share index fell 333.90 points and closed at 8,266.41 points as compared with 8,600.31 points. The KMI 30 index also slumped 358.09 points to close at 10,666.49 points as against 11,024.58 points. Analysts said another factor that led to the bearish trading session was serving of a legal notice to a major blue chip bank that led to selling in bank stocks. The market turnover declined by 29.17 percent and traded 226.88 million shares as compared to previous session’s 320.33 million shares. The overall market capitalisation fell by 3.16 percent to close at Rs 2.264 trillion as compared with Rs 2.338 trillion traded in the previous session.
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