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Closing: KSE-100 loses 250pts, down 0.78% to close below 32000pts level

Closing: KSE-100 loses 250pts, down 0.78% to close below 32000pts level

KARACHI: The Karachi Stock Exchange (KSE) lost 250.11 points or -0.78% to reach 31756.29 points and volume of 187,615,200 shares on Wednesday.

Earlier, trading in the market started on a positive note and the index kept on ticking, adding 219 points to the overnight tally.

The stocks opened at overnight closing of 32,006.40 points and continued upward march, showing signs of confidence.

However, In its journey to scaling new heights of its history, the buoyant Karachi Stock Exchange benchmark 100-index tumbled a little  till midday and lost most of early gains to come down to 32019.90 points after reaching 32225 points.

As a whole 15.93 per cent of companies witnessed increase in their shares while 43.51 per cent lost their share value and 2.46 per cent companies remained stable.

High and Low were 32225.17 and 31697.78 respectively. Total volume traded in the market was 187,615,200 shares.

Analysts say foreign fund managers showed exceptional interest in the market and it is expected that the bullish trend may retained at the bourse in the coming days.

The appreciation in the value of rupee against dollar also boosted confidence of the investors in first two days of market; however it lost 250 points on Wednesday unexpectedly.