KSE declines 52 points on MQM strike call

The Karachi stock market remained under the bearish spell on Tuesday due to a strike call by the Muttahida Qaumi Movement (MQM) to mourn the rising violence in the city affecting investor sentiment negatively.

The Karachi Stock Exchange (KSE) 100-share index declined by 51.89 points or 0.48 percent to close at 10,842.26 points as compared to 10,894.15 points. The KSE 30-share index gained 3.71 points to close at 10,394.79 points as compared with 10,391.08 points.

“Stocks closed broadly lower amid thin trade in the earnings announcements session at KSE,” said Arif Habib Investments Ltd Director Ahsan Mehanti. “Strike call by MQM to mourn the rising violence in the city affected the sentiment at KSE.”

From: Daily Times