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Roundup: KSE posts 4th straight bearish session amid profit-taking

Xinhua, February 26, 2015 Adjust font size:

Pakistan's Karachi Stock Exchange (KSE) kept on shedding value for fourth straight day on Thursday as investors stayed on the selling counters amid a continuous profit-booking spree.

The benchmark KSE 100-Index declined by 0.24 percent or 82.50 points to 33,762.80 points on Thursday when compared with 33,845. 30 points recorded on Wednesday.

During the four-day bearish spell, the main index has lost 230. 20 points from 33,993 points on Friday to 33,762.80 points on Thursday.

The KSE All Share Index swelled by 0.11 percent or 25.80 points to 24,155.52 points, the KSE 30-Index lost 0.38 percent or 83.54 points to 22,027.35 points, whereas the KMI 30-Index fell by 0.55 percent or 298.67 points to 54,011.65 points.

During Thursday's trading session, the key index touched an intraday high of 33,996.73 points as against an intraday low of 33, 701.26 points.

Cement stocks witnessed profit taking as investors expected lower dispatches for the ongoing month. On the other hand, the National Bank of Pakistan closed in positive column with decent volumes after announcing December financial result.

Market volumes improved by 20.36 percent or 28.689 million shares to 169.615 million shares on Thursday as against 140.925 million shares posted on Wednesday, the capitalization surged by 0. 1 percent or 7.985 billion rupees (79.851 million U.S. dollars) to 7,623 trillion rupees (76.231 billion U.S. dollars), whereas the trading value gained 23.38 percent or 1.627 billion rupees (16.276 million U.S. dollars) to 8.588 billion rupees (85.880 million U.S. dollars).

Among 375 active scrips on Thursday, prices of 205 issues depleted, 149 advanced, whereas values of 21 other companies stayed stable.

Karachi Electric Limited, National Bank of Pakistan, and Pakistan Int. Bulk led the top traded companies of the day with turnovers of 19.167 million shares, 13.847 million shares, and 11. 576 million shares, respectively.

Unilever Foods was the top price gainer with increment of 350 rupees (3.50 U.S. dollars) to 9,450 rupees (94.50 U.S. dollars) while on the other hand Bata Pakistan topped the main price shedders with decrement of 208.90 rupees (2.08 U.S. dollars) to 4, 090.10 rupees (40.90 U.S. dollars). Endi