Karachi: Pakistan's Karachi Stock Exchange 100 Index yesterday fell 29.27, or 0.3 per cent, most in 10 days, to 10,557.19.
Oil & Gas Development Co. — Pakistan's biggest exploration company — dropped 0.6 per cent to Rs130.96 (Dh5.71), retreating for a third day after exceeding a technical indicator that suggests shares may fall.
A 14-day relative strength measure, showing how rapidly prices rose or fell during the specified period, was above 70 for the previous three trading days. Some investors see readings above that level as a signal to sell.
Engro Corp., Pakistan's second-biggest urea maker, declined the most in five months, dropping 2.6 per cent to Rs206.68.
A 14-day relative strength measure was above 70 for the previous eight trading days.
