Index falls as investors remain wary

Karachi: On the Pakistan stock market, volumes continued to remain low Tuesday and the index edged lower, as investors continued to remain on the sidelines, cautious over a new capital gains tax and awaiting the re-introduction of margin buying, dealers said.

The Karachi Stock Exchange's (KSE) benchmark 100-share index , ended 0.35 per cent, or 33.56 points, lower at 9,604.41.

Turnover was 23.24 million shares, up from 14.71 million shares traded on Monday, which was the lowest since December 2008.

"The abnormally low volumes are because of the new tax and I think trades will pick up once the leverage products are introduced again," said Mohammmad Sohail, chief executive of Topline Securities.

Dealers said investors were also hoping for the re-introduction of margin buying in the market.