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Stocks retreat as foreigners indulge in profit-taking
KARACHI: After a volatile session, stocks retreated for the third successive session on Wednesday with the KSE-100 index recording a decline by 237.95 points (0.58 per cent) to close at 40,526.81.
At this stage, the index stood at its lowest since closing at 41,688.57 points on Oct 20. Investors were spooked by the rising political noise as the PTI protest drew nearer.
Foreign investors booked profit with sale of $0.98 million worth stocks. Overall volume during the day decreased by 5.4pc to 348m shares from 368 shares traded a day ago while trading value increased by 14pc to Rs13.2bn from Rs11.6bn. Volume leaders were K-Electric (KE) and Bank Of Punjab (BoP) with 60m and 41m shares respectively.