BISINISS WORLD NEWS

 KARACHI: Karachi Stock Exchange (KSE) witnessed bearish trend at the start of the week as the benchmark KSE-100 Index plunged below 9,500 level to 9,498.

Today’s trade started on a positive note but the Index failed to sustain the level of 9,600 points for long due to selling in banking and energy sectors. At one stage the market was also seen trading at 9,471 level. However, buying at lower levels helped the Index recover some of the losses and close at the current level.

Investors shied away from taking fresh positions due to the delay in issue of new leverage products.

Market turnover stood at 100 million shares with Lotte Pakistan topping the list of volume leaders at Rs9.35, down by paisas 30.

Meanwhile, KSE-30 Index plummeted by 136 points to 9924.

Market analysts are of the view that support may be witnessed at 9500 points.