KSE takes nose-dive at weekend, losing 615 points
KARACHI: Heavy panic selling at Karachi Stock Exchange on Friday led to the slide of benchmark KSE-100 Index which lost 615 points to finish at 13,011.
Unstable political and economic condition of the country coupled with decreasing value of rupee shook the investors confidence who opted for off loading their holdings.
The market started in the negative zone but some recovery was seen soon afterwards.
However, investors later went for selling instead of taking new positions in the share market in view of the weakening economy and unstable political scenario.
The rupee value of dollar also jumped to Rs70 which further strengthened the bearish trend.
Trade volume was weak at 125 million shares lower by 25 percent compared to yesterday’s trade.