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Roundup: Late selling deprives KSE of intraday gains

Xinhua, March 6, 2015 Adjust font size:

Pakistan's Karachi Stock Exchange (KSE) recorded bearish trading activities on Friday as investors booked profits at higher levels ahead of the weekend amid reduced overall participation.

The benchmark KSE 100-Index declined by 0.32 percent or 105.18 points to 33,263.66 points on Friday when compared with 33,368.84 points witnessed on Thursday.

During the week that ended on March 6, the main index lost 368. 53 points with three out of five trading sessions ending in negative territory.

The KSE All Share Index fell by 0.46 percent or 110.64 points to 23,714.49 points, the KSE 30-Index dipped by 0.42 percent or 92. 48 points to 21,694.97 points, while on the other hand the KMI 30- Index negated the bearish trend and ended with an increase of 0.26 percent or 141.13 points to finish the week at 59,977.13 points.

During Friday's trading session, the key index touched an intraday high of 33,474.06 points as against an intraday low of 33, 239.43 points.

Market volumes depleted by 23.67 percent or 41.780 million shares to 134.739 million shares on Friday as against 176.520 million shares posted on Thursday, the capitalization reduced by 0. 54 percent or 40.466 billion rupees (404.662 million U.S. dollars) to 7.477 trillion rupees (74.779 billion U.S. dollars), whereas the trading value shrank by 8.75 percent or 795.729 million rupees (7.957 million U.S. dollars) to 8.296 billion rupees (82.961 million U.S. dollars).

During the week under review, the top Pakistani stock market recorded total volumes of 875.644 million shares at average daily turnovers of 171.528 million shares.

Among 343 active scrips on Friday, prices of 184 issues decreased, 138 advanced, whereas values of 21 other companies stayed unchanged.

Jahangir Siddiqui Company Limited, Pak Elektron Limited, and Karachi Electric Limited were the top traded companies with turnovers of 15.254 million shares, 12.574 million shares, and 9. 719 million shares, respectively.

Unilever Foods was the top price gainer with increment of 465. 81 rupees (4.65 U.S. dollars) to 9,900 rupees (99 U.S. dollars) whereas Wyeth Pakistan Limited led the major price shedders with decrement of 149.19 rupees (1.49 U.S. dollars) to 2,837 rupees (28. 37 U.S. dollars). Endi