Stocks Observer. com

The Karachi stock market closed lower on Thursday as the deteriorating security situation in Buner, Dir and subsequent killing of Sufi Mohammed’s son by Pakistan Army’s shelling propelled investors to offload their holdings. The Karachi Stock Exchange (KSE) 100-share index lost 73.21 points or 1.02 percent to close at 7,125.66 points as compared to 7,198.87 points of the previous session. The KSE 30-share index shed 86.33 points and closed at 7,561.36 points as compared with 7,647.69 points. The KMI 30 index also decreased by 122.13 points to close at 10,034.78 points as against 10,156.91 points. Analysts said another reason for the sluggish trend was the May 12 strike calls by ANP and MQM, which is expected to aggravate the law and order situation in the city. The market turnover fell 13.98 percent and traded 122.16 million shares as compared to previous session’s 142.02 million shares. The overall market capitalisation declined by 1.02 percent to close at Rs 2.121 trillion from its o