Business

KSE 100-Index slumps by 153.13pts

KARACHI: Karachi Stock Exchange (KSE) fell on Monday ahead of the announcement of the annual budget next month, with the KSE 100-share index closing 0.64 percent, or 153.13 points down, at 32,886.06.

“Another dull session was witnessed today as clarity on many issues related to the upcoming budget remain,” said Mohammad Rizwan at Topline Securities.

“Investors preferred to stay on the sidelines in the absence of any positive news.”

D.G. Khan Cement Co Ltd fell 1.4 percent, while Fatima Fertilizer Ltd slid 2.3 percent.

The rupee ended at 101.90/101.97 against the dollar, weaker from Friday’s close of 101.82/101.88.

Overnight rates in the money market remained flat at 6 percent.

“We will stay here as long as the war is continuing,” he continues. “God only knows when it will end.”

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