Karachi stock market plummets

KARACHI: Karachi Stock Exchange despite pleasant, cool and cloudy weather in the city continued to remain in the sagging mood for the second consecutive day perhaps over worsening security situation in this hub of trade and industry.

No wonder, with the beginning of the trading today the investors either remained indifferent or preferred unloading their over-bought shares, while the buyers’ persistent lackadaisical attitude initiated the crash that saw the market collapsing like a house of cards.

The benchmark KSE-100 shares index on one occasion was seen plummeted by massive 537 points to peg at 21,986 marks.

It may be recalled that the market at the close yesterday had also recoded a steep fall by 398.53 points taking the index down to 22523.71 marks.