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Roundup: Paksitan's KSE drops 0.23 pct amid rising political mercury

Xinhua, March 19, 2015 Adjust font size:

Pakistan's Karachi Stock Exchange (KSE) stayed on the bearish side for fourth straight session on Thursday as local and foreign investors continued selling their holdings amid a rising political temperature in the country following Pakistan Rangers' recent arrests in Karachi.

The benchmark KSE 100-Index declined by 0.23 percent or 73.36 points to 31,451.62 points on Thursday when compared with 31,524. 98 points reported on Wednesday.

During the four-day bearish streak, the key index has shed 1, 477.47 points from 32,929.09 points on March 13.

The KSE All Share Index dipped by 0.07 percent or 16.05 points to 22,450.19 points, the KSE 30-Index slipped by 0.47 percent or 95.61 points to 20,043.77 points, whereas the KMI 30-Index bucked the general bearish trend by gaining 0.52 percent or 267.80 points to close at 51,450.29 points.

During Thursday's trading session, the key index touched an intraday high of 31,607.81 points as against an intraday low of 31, 395.07 points.

Selling activities were witnessed yet again amid speculations that foreign selling will continue which hurt the general market sentiments and locals also resorted to offload their holdings.

Market volumes depleted by 48.32 percent or 100.555 million shares to 107.539 million shares on Thursday as against 208.094 million shares posted on Wednesday, the capitalization reduced by 0.37 percent or 26.268 billion rupees (262.686 million U.S. dollars) to 7.002 trillion rupees (70.023 billion U.S. dollars), whereas the trading value shrank by 47.06 percent or 5.496 billion rupees (54.964 million U.S. dollars) to 6.183 billion rupees (61. 839 million U.S. dollars).

Among 328 active scrips on Thursday, prices of 156 issues declined, 146 advanced, whereas values of 26 other companies stayed unchanged.

Pak Elektron Limited, Jahangir Siddiqui Company Limited, and Maple Leaf Cement XD were the top traded companies with turnovers of 15.297 million shares, 7.767 million shares, and 6.070 million shares, respectively.

Murree Brewery was the top price gainer with increment of 31.11 rupees (31.11 U.S. cents) to 989.95 rupees (9.89 U.S. dollars) while on the other hand Shezan International led the major price shedders with decrement of 57 rupees (57 U.S. cents) to 1,092 rupees (10.92 U.S. dollars). Endi