KSE-100 Index plunges below 7,000 level

Posted on May 21, 2009

KARACHI: Karachi Stock Exchange (KSE) on Thursday witnessed selling and the benchmark KSE-100 Index slid 91 points to close at 6,996. Market opened downbeat and selling pressure dominated the share market throughout the session, bringing the major Index down to the current level. At one point the Index plunged to 6,840 points but a statement from the Finance Advisor about imposition of no new tax on the stock market helped the share prices recover to some extent. The market turnover was recorded at 110 million shares. Admajee Insurance was today’s volume leader which gained Rs3.84 to Rs78. Market analysts foresee short recovery in the capital market in the coming sessions.

Tags: capital market, Finance Advisor, Karachi Stock Exchange, Karachi Stock Exchange, KSE-100 Index plunges below, share market