| GEO Business|
| KSE further shrinks by 65 points to 11,813|
| Updated at: 1816 PST, Tuesday, July 08, 2008|
KARACHI: Series of bomb blasts in Karachi prompted further selling at the local capital market on Tuesday, eroding 65 points from the benchmark KSE-100 Index which finished the day at 11,813.
Diminishing value of rupee against foreign currencies along with deteriorating law and order situation kept bears firmly in control at KSE.
Market analysts say that some group specific re-adjustments are being witnessed but support is yet to be established here.
Volumes remained dismal today at 20 million shares, although that is a slight improvement over 17 million shares traded yesterday.
Only 168 companies were traded. Of these 18 scrips ended on gains while 146 declined and 4 remained unchanged.
KSE-30 Index slid to 13, 629 level after losing 99 points.
Analysts expect this lack lustre performance to persist though better than expected result announcements particularly in energy stocks, could prompt some accumulation in upcoming sessions.