Stock prices at KSE flat at weekend

 KARACHI: The share prices at Karachi Stock Exchange (KSE) ended flat on Friday as early gains on hopes of healthy corporate results were eroded towards the end amid concerns regarding the law and order situation in Karachi.

At least 10 people were killed and 20 injured in the country's biggest city on Friday as rival groups fought pitched battles in the city's eastern neighbourhoods, police and officials said.

"There was some interest in the morning as investors are expecting healthy results from leading companies, particularly in the fertiliser and banking sectors," said Ashraf Zakaria, a dealer at brokers Ali Hussain Rajabli and Co.

"But the violence in the city resulted in negative sentiment and investors, fearing that it could escalate further over the weekend, offloaded holdings before the close," he said.
The Karachi Stock Exchange's benchmark 100-share index ended 0.02 percent, or 2.01 points, higher at 12,476.77.

During the day, the index touched a high of 12,543.18.

Volume rose sharply to 126.25 million shares from 70.32million on Thursday, but dealers said that did not show a broad interest in the market as 60 million shares were traded in the rights issue of NIB Bank alone. (Reuters)