The Karachi share market fell more than one percent due to institutional selling on Monday, dealers said.
“Institutional investors’ focus remained in line with the year-ending in the absence of any good news,” said Sajid Bhanji, Vice President, Arif Habib Capital Markets. The KSE-100 Index fell 1.28 percent, or 125.30 points, to close at 9,671.55 points. The KSE-30 Index down by 1.57 percent, or 151.96 points to close at 9,510.19 points.
Out of the total 425 active stocks, 114 advanced, 279 declined and 32 companies remained unchanged. Bhanji said that the institutional investors, particularly the mutual funds, remained on the sidelines as they need some cash in their accounts at the end of the fiscal year so that they could announce dividends or bonuses for their unit holders.
Your Comments