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Regional Bourses Weigh Down on Local Stocks (Karachi Stock Exchange)

Posted by on Thursday, March 8, 2012, 10:27
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karachi stockStocks ended lower on Wednesday as cautious investors booked profits at higher levels, taking cues from regional markets, dealers said. The Karachi Stock Exchange (KSE) benchmark 100-share index fell 0.60 percent, or 79.39 points, lower at 13,344.95 points.

Turnover rose to 318.6 million shares, compared with 250.51million shares traded on Tuesday.

“Bearish activity was witnessed at the KSE, but in healthy turnover, after a fall in global markets,” said Ahsan Mehanti, director at Arif Habib Ltd.

Southeast Asian stocks fell on Wednesday with Singapore hitting a one-month low as Asian investors continued to worry about slowing global growth.

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