Modest gain witnessed at Karachi bourse after index freeze

2008-08-29 14:01:13 (GMT) ( - Pakistan News News)

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Karachi Stock Exchange - KSE Logo

Karachi, Pakistan ( — The Karachi Stock Exchange trading session gained a modest 59 points during the trading session on Thursday. The steps taken by the authorities to freeze the prices of shares at yesterday’s level of 9,144 level induced some confidence in the investors who participated with positive notes.

The political uncertainty and gloomy economic outlook of the country is responsible for eroding 42% of the market capitalization. The upcoming presidential election has shattered the confidence of investors who, with the prices of the shares at a 10 year low, seem to be cautious.

The Karachi Stock Exchange budged to 9,204 points from 9,144 during the days trading session. A total of 56 million shares changed hands with 263 scrips being traded on the floor today. Out 263 scrips 133 advanced while 130 remained unchanged. - Press Release Distribution Service


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