KARACHI: Market remained on the slippery slope for the second day with the KSE-100 index tumbling 380.60 points (1.10 per cent) and settled for the week-end at 34,190.02.
As the euphoria over the approval of the $6 billion loan by the International Monetary Fund (IMF) Executive Board fizzled out, there was no positive trigger, while the investors were perturbed by the bleak outlook on the economic front and an unsettled political environment.
All of that dragged the Index down to extend the loss suffered the earlier day.
“Market participants continue to sell the rally seen during the days leading up to the much-awaited IMF decision” commented a senior analyst. With the week-end ahead, investors decided to trim their portfolio and book profit as uncertainty was again beginning to take hold of the market.
The index opened on a negative note on Friday with minus 45 points on the board.