| GEO Business|
| KSE investors’ further Rs700b sink|
| Updated at: 1310 PST, Tuesday, December 30, 2008|
KARACHI: Karachi Stock Exchange (KSE) investors have further lost Rs700 billion since the index ‘floor’ removed from December 16.
KSE released data said that the KSE-100 index, which was at 9187 points and while the KSE listed companies’ shares valued at Rs2712 billion on December 15, 2008, went melting down by 33 percent i.e. over 3000 points and the KSE listed companies shares’ market capitalization evaporated by Rs733 billion, following the removal of index ‘floor’ from December 16.
KSE-100 index on April 18, 2007 was seen at 15676 points, its history’s highs and the market capitalization was at Rs4783 billion, but since April to December the index plunged down by over 60 percent i.e. by 9500 points, while market capitalization has shrunk by Rs2800 billion, which goes in history as the worst KSE crash ever.