Karachi Stock 100-Index plunges on panic selling
Pakistan Times Business & Commerce Desk

KARACHI: Panic selling in leading scrips weaken prices at Karachi Stock Exchange Wednesday as 100-Index plunged by 225.24 points to close at 10,077.89, dealers said.

A dealer Iqbal Husain said that the turnover volume was high at more than 666.736 million shares as prices of 245 scrips sustained losses and only 102 recorded gains while 40 remained unchanged.

The market capitalization was declined by about Rs 65 billion to more than Rs 2.713 trillion which eroded the Index by 2.19 percent.

He said that the market was opened on a high pitch, recording a gain of 250 points within half an hour and crossed 10500 mark. At this point of time, some profit taking in leading scrips plunged prices.●