Karachi capital market ticks down

KARACHI: Local capital market ended lower on Thursday as investors booked profit in blue chip companies such as Oil and Gas Development Co Ltd (OGDCL).

The Karachi Stock Exchange's (KSE) benchmark 100-share index ended 0.28 percent, or 32.12 points, lower at 11,515.59 points. On Wednesday, the KSE-index ended 2.15 percent higher at 11,547.71, its highest close since Dec. 1.

Volume rose to 92.47 million shares, compared with 83.73 million shares traded on Wednesday.

"After rising by more than 500 points in last few sessions, some profit-taking was seen at Karachi Stock Exchange," said Samar Iqbal, a dealer at Topline Securities Ltd.

"OGDCL, which rallied in the last session, fell by two percent."
OGDCL, the most heavily weighted company on the KSE-index, ended 2.11 percent lower at 148.15 rupees. (Reuters)