Another Black Day at KSE, index plunges 567 points down!

Category: Business/Economy
Written by: Amend Foster (on May 29, 2008 - 11:14 AM)

E-Mail Article to a Friend

Karachi Stock Exchange (KSE) yesterday’s fight back, perhaps proved too exhaustive sapping all of its energy that brought KSE-100 index today falling flat by 567 points and down below 12,200 marks.

The market opened downbeat and soon went through severe bouts of depression, except a brief moment, when the index was seen gaining by 100 points, but that proved elusive, as there was nothing to cheer about at the national political scene, while the rulers appeared bent on carrying out their one-point agenda, which had all the negative bearings for the sagging economy. All blue chips on the bourse’s board showing red signs were seen locked at their lower levels, while the bookies and punters kept beating their chests and tears rolling down from their eyes.

KSE-100 index at the end of the trading session melting away 567 points wrapped up at 12254. Turnover today aggregated to 180 million shares, which as compared yesterday was less by 100 million shares. Volume leader NIB Bank losing Rs1 closed at Rs12. KSE-30 index evaporating 749 closed at 14395 points.

Share your thoughts by posting a Talk-Back: