| GEO Business|
Bears come to rule KSE
| Updated at: 1356 PST, Monday, August 09, 2010|
KARACHI: Acute bearish trend is being witnessed at Karachi Stock Exchange (KSE) at the very outset of trade week today, as the benchmark 100-index tumbled below 10,000-point level, Geo News reported Monday.
The market opened into positive territory; but, the rumors in the winds, relating delay in financing system, pushed the investors to sell their shares, pressing the index to shed over 350 points to below 10,000-point level.
According to analysts, the todayís market slump has been spurred by the delay of new financing product and falling far short of GDP growth targets.
It was further said the marketís future is hinged on the foreign investment and if they opted to sell shares in the market, then this negative trail could persist for several coming days.