KARACHI: The KSE-100 Index started the week in the red, ending 294 points lower amid lack of positive triggers and profit-booking on Monday.
Trading began on a positive note with the KSE-100 rising to an intra-day high of 43,900, but lack of interest on the part of institutional investors and profit-booking in index-heavy cement and banking sectors dragged stocks into the red. The index dropped 439 points in intra-day trading before retail investors helped arrest the slide.
At close, the benchmark KSE 100-share Index recorded a drop of 293.72 points or 0.67% to finish at 43,515.08 points.
According to Elixir Securities’ analyst Jawwad Abubakr, equities closed negative in lacklustre trading with the benchmark KSE-100 Index seeing an exchange of only 66 million shares.