Stocks Observer. com

The Karachi stock market witnessed a correction phase on the last trading day of the week Friday following preference by the retail investors for profit-taking amid a plunge in the international markets. The Karachi Stock Exchange (KSE) 100-share index shed 27.06 points or 0.36 percent to close at 7,471.28 points as compared to 7,498.34 points of the previous trading session. The KSE 30-share index decreased by 7.24 points and closed at 7,993.29 points as compared with 8,000.53 points. The KMI 30 index also lost 38.13 points to close at 11,173.03 points as against 11,211.16 points. The market turnover fell 7.34 percent and traded 181.54 million shares as compared to previous session’s 195.94 million shares. The overall market capitalisation was down by 0.36 percent to close at Rs 2.205 trillion as compared with Rs 2.213 trillion. Out of total 288 companies, 97 closed in the positive zone, 160 in negative while 31 remained unchanged. “The US data on job losses in June triggered foreign