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Roundup: Karachi bourse gives up all-time peak

Xinhua, January 13, 2015 Adjust font size:

Pakistan's Karachi Stock Exchange (KSE) lost its all-time highest mark on Tuesday as investors made full use of the buying opportunity available at historic peaks and went for offloading their holdings.

The benchmark KSE 100-Index dipped by 0.14 percent or 46.91 points to 33,371.29 points on Tuesday when compared with 33,418.20 points recorded on Monday.

The KSE All Share Index decreased by 0.34 percent or 82.04 points to 24,251.60 points, the KSE 30-Index fell by 0.31 percent or 67.36 points to 21,587.14 points, whereas the KMI 30-Index declined by 0.1 percent or 51.73 points to 52,429.85 points.

During Tuesday's trading session, the key index touched an intraday high of 33,423.82 points as against an intraday low of 33, 167.95 points.

Index heavyweight oil exploration companies remained under pressure after decline in international oil prices as Oil and Gas Development Company (OGDC), Pakistan Oilfields Limited (POL), and Pakistan Petroleum Limited (PPL) fell over 2 percent.

Renewed interest was seen in auto sector due to encouraging auto sales for the first half of Financial Year 2015.

Steel sector also kept on rallying after the government imposed regulatory duty on import of steel products.

Market volumes swelled by 28.454 million shares to 279.005 million shares on Tuesday as against 250.550 million shares posted on Monday, the capitalization reduced by 26.200 billion rupees ( 262.001 million U.S. dollars) to 7.649 trillion rupees (76.496 billion U.S. dollars), whereas the trading value improved by 672. 877 million rupees (6.728 million U.S. dollars) to 13.206 billion rupees (132.066 million U.S. dollars).

Among 400 active scrips on Tuesday, prices of 222 issues advanced, 157 depleted whereas values of 21 other companies stayed unchanged.

Pak Elektron Limited, Pakistan International Airlines, and Pak Int. Bulk were the top traded companies with turnovers of 20.698 million shares, 15.015 million shares, and 14.980 million shares, respectively.

Bata Pakistan was the top price gainer with increment of 148.97 rupees (1.48 U.S. dollars) to 3,948.97 rupees (39.48 U.S. dollars) while on the other hand Unilever Foods led the major price shedders with decrement of 310 rupees (3.1 U.S. dollars) to 8,890 rupees (88.90 U.S. dollars). Endi