KSE closes on negative note at weekend

KARACHI: The benchmark KSE-100 Index of Karachi Stock Exchange closed slightly negative on Friday following acts of terror in the country.

KSE-100 Index shed 8 points to close at 9,838 on the last trading of the week.

The market opened in the green territory and soon the Index surged beyond 9,900 level, showing a total disregard by foreign investors in the first session of the market to yesterday’s terrorist activities in Lahore and Peshawar.

Oil & gas, banking, telecom and fertilizer sectors drew maximum activity. Buying from local financial institutions and big brokerage houses also gave support to the equity market.

The Index sustained the level of 111 points up at 9,957 in the first session, but profit taking in the second session eroded the earlier gains and the Index closed slightly down.