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Roundup:KSE decreases 0.04 pct to end bearish week

Xinhua, May 22, 2015 Adjust font size:

Pakistan's Karachi Stock Exchange (KSE) recorded bearish trading activities on Friday as investors remained sidelined due to the upcoming monetary policy statement and the Finance Bill 2016.

The benchmark KSE 100-Index dipped by 0.04 percent or 12.12 points to close at 32,605.62 points on Friday when compared with 32,617.74 points recorded on Thursday. During the week that ended on May 22, the key index slumped by 433.58 points with four out of five trading sessions ending in negative zone.

The KSE All Share Index declined by 0.24 percent or 56.10 points to 22,939.76 points, the KSE 30-Index increased by 0.13 percent or 26.43 points to 20,770.25 points, whereas the KMI 30- Index swelled by 0.17 percent or 88.32 points to 53,438.79 points.

During Friday's trading session, the key index touched an intraday high of 32,750.45 points as against an intraday low of 32, 529.05 points.

The State Bank of Pakistan is scheduled to announce its monetary policy statement for the months of May and June on Saturday, which kept most of the investors at bay. Especially, continuous selling by local funds and uncertainty on upcoming Budget forced investors to remain on sideline.

Market volumes decreased by 6.06 percent or 4.872 million shares to 75.468 million shares on Friday as against 80.340 million shares posted on Thursday, the capitalization shrank by 0. 26 percent or 18.281 billion rupees (182.810 million U.S. dollars) to 7.081 trillion rupees (70.812 billion U.S. dollars), whereas the trading value fell by 9.62 percent or 379.159 million rupees ( 3.791 million U.S. dollars) to 3.560 billion rupees (35.608 million U.S. dollars).

During the week under review, the top Pakistani bourse recorded total volumes of 520.189 million shares at average daily turnovers of 104.038 million shares.

Among 325 active scrips on Friday, prices of 174 issues depleted, 129 advanced, whereas values of 22 other companies stayed unchanged.

Bank of Punjab, Hum Network, and Karachi Electric Limited were the top traded companies of the day with turnovers of 4.837 million shares, 4.406 million shares, and 4.362 million shares, respectively.

Khyber Tobacco was the top price gainer with increment of 13.50 rupees (13.50 U.S. cents) to 284 rupees (2.84 U.S. dollars) while on the flip side Pak Tobacco led the major price shedders with decrement of 45.15 rupees (45.15 U.S. cents) to 857.85 rupees (8. 57 U.S. dollars). Endi