Profit-taking softens Khi stocks

KARACHI: Karachi Stock Exchange (KSE) ended lower on Thursday, as investors opted to book profits ahead of a long weekend, especially in the fertilizer and banking sectors, dealers said.

The KSE benchmark 100-share index closed 0.36 percent, or 39.32 points, lower at 10,901.76.

Volume was at 44.82 million shares, compared with 40 million shares traded on Wednesday.

The stock market will remain closed on Friday.

"The fertiliser sector was under pressure after lower urea sales figures, while the banking sector also saw some pressure, notably the National bank of Pakistan (NBP)," said Khalid Iqbal Siddiqui, director at Invest and Finance Securities Ltd.

NBP shares fell 5 percent to close at 37.86 rupees.
Dealers said concerns over outflow of foreign investments also fueled negative sentiment in the stock market. (Reuters)