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Market watch: Index ends in red

KARACHI: Profit-booking and sector-specific news meant the benchmark-100 index caved under pressure, dropping below the 33,000-point mark once again.

Foreign investors continued to offload, but news of Habib Bank Limited’s (HBL) New York branch and its non-compliance issues with US regulators dented sentiment as well. Tumbling oil prices finished off whatever interest investors had over attractive valuations.

At close on Friday, the Karachi Stock Exchange’s (KSE) benchmark 100-share index fell 1.00% or 332.50 points to end at 32,777.04.