KSE 100-index sheds 414 points, closes at 11097 in Pakistan
Pakistan Times Business & Commerce Desk

KARACHI: A hoard of bears on Monday gripped the Karachi Stock Market, keeping the 100-index at lowest ebb.

The KSE 100-index dropped 414 points and closed at 11097.

No positive reports, negative reports regarding enforcement of taxs on capital gains in new fiscal budget for year 2006-07 and huge shares selling by some brokers all played key role in knocking down the index by 429 points.

However, some recovery was seen at the close.

Shares of different companies including oil and gas, cement and banking sector were seen gripped by bulls, pushing the market into lazy zone and closing the share prices at record low.●