KARACHI: Stock market went deeper into depression on Tuesday as the KSE-100 index lost another 290.78 points (0.89 per cent) to close at 32,467.04.
The local bourse followed the global market where profit-taking was witnessed ahead of the policy rate hike by Fed.
“As the decision would come on Wednesday evening after the close of market in Pakistan, the impact would be visible in Thursday’s trading at the local bourse,” said a market participant.
The significant feature of the market was the hefty buying of $8.22 million by foreigners.
However, it was understood to be one-off deal in the negotiated market in the stock of ‘Pakistan Tobacco Company’.
The seller was reckoned to be a major conglomerate which sold through institutions. Sales by Non-banking financial institutions (NBFC) stood at Rs5.05m while companies offloaded shares of $3.86m.