KSE trade volume hits record low

Updated at: 1719 PST, Friday, October 17, 2008
KARACHI: Trade activity at Karachi Stock Exchange further squeezed on Friday as the benchmark KSE-100 Index ended unchanged at 9,184 for the fourth consecutive day.

Investors interest evaporated from the market after the protective floor was put in place at 9,144 points.

Trade volume was shrank to only 193,000 shares – lowest in the history of KSE.

Shares of only 36 companies exchanged hands, out of which 8 rose in value, 2 declined, while 26 remained unchanged.

Market analysts expect market activity to remain dismal until the floor is removed on the October 27.

A Pakistan Strategic Enterprise Fund with an approximate value of Rs20 billion is being finalized and expected to pour in some support to the market.

However, dealers expect the fund to make an entry at 15 percent below current price levels.