Updated at: 2003 PST, Thursday, January 21, 2010 KARACHI: Bears made a strong come back at the Karachi Stock Exchange on Thursday as benchmark-100 index fell below 9,800 level.Trading commenced on a negative note and covert pressure kicked in as index descended south. Index plunged further to hit intraday low of 9,743 points, down 162 points. Benchmark index finally closed at 9,753 points, down 151 points. Investor participation remained healthy, however, frail sentiments was evident with uncertainties regarding capital gains tax and political scenario after detailed NRO verdict by the apex court. Savvy investor accumulated at lower levels, as they chose to offload holding and book gains. 259 million shares were traded on Thursday against average daily trading volume of 194 million shares for the month. Lotte Pak was witnessed as the volume leader, up by Rs0.68/share to close at Rs10.96. On the other hand, parallel KSE-30 index closed at 10,234 points with a loss of 206 points. Market experts said index could see support at 9,700 level. |
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