Karachi: Pakistan stocks fell for a ninth day, as selling by foreign investors outweighed purchases by a market stabilisation fund. Pakistan Petroleum Ltd, the biggest gas producer led declines.
The Karachi 100 Index lost 114.2, or 2.32 per cent, to 4,815.34 at the 3.30 pm. local-time close. This is the lowest since February 25, 2004, when the index closed at 4,809.52.
"The buying by the fund isn't enough to compensate for the selling pressure," said Atif Malik, JS Global Capital's director of international equity sales.
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