STOCK MARKET UPDATE: 14.05.2012

Stock

Karachi Stocks Down 189.70 Points:
KARACHI, May 11: At close of trading, the KSE-100 index was at 14230.49, down 189.70 points.

May 11, 2012

 5 TOP GAINERS  &  LOOSERS:

Colgate Palmolive	Rs 45.46	Unilever Pak	Rs (38.77)
Shezan Int’l	Rs 7.98	Nestle Pak	Rs (13.51)
Sanofi-Aventis	Rs 5.21	Unilever Food	Rs (12.65)
Shield Corp	Rs 4.55	Mithchells Fruit	Rs (10.25)
Attock Petroleum	Rs 3.34	Island Textile	Rs (7.57)

KSE 100-share index sheds 189 points

ISLAMABAD: The Karachi Stock Exchange benchmark 100-share index ended 1.32 percent, or 189.7 points, lower at 14,230.49 points, with a volume of 195.7 million, compared to Thursday's close of14,420.19 points.

Stocks dropped for a second consecutive day on Friday with investors concerned about the possibility of the US Congress imposing more conditions on American assistance and trade with Pakistan, analysts said.

"The news of possible strict conditions on American aid to Pakistan kept the mood at the market negative," said a research analyst at the JS Global financial services company.

The US House Appropriations Subcommittee for State and Foreign Operations on Thursday approved a bill that would attach additional conditions to any civilian or military aid to Pakistan by demanding it help more in combating militant groups and disrupting networks providing material for homemade bombs being used against NATO forces in Afghanistan.

Pakistan suspended important overland supply routes to NATO forces in Afghanistan after NATO aircraft killed 24 Pakistani soldiers in November. (Reuters)

MOHAMMED SALEEM MANSOORI