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Roundup: Cautious KSE stays bearish on budget day

Xinhua, June 5, 2015 Adjust font size:

Pakistan's Karachi Stock Exchange (KSE) recorded bearish trade on Friday as investors decided to play it cautiously ahead of the Federal Finance Bill 2015-16 where they expect government to unveil various new taxes.

The benchmark KSE 100-Index shed 0.21 percent or 73.25 points to 34,012.49 points on Friday when compared with 34,085.74 points reported on Thursday. During the week that ended on June 5, the main index jumped by 955.70 points with four out of five trading sessions ending in green zone.

The KSE All Share Index dropped 0.24 percent or 58.16 points to 23,748.75 points, the KSE 30-Index dipped by 0.35 percent or 74.69 points to 21,562.65 points, whereas the KMI 30-Index inched up marginally by 0.02 percent or 11.84 points to 56,018.66 points.

During Friday's trading session, the key index touched an intraday high of 34,148.43 points as against an intraday low of 33, 970.90 points.

Market volumes depleted by 7.88 percent or 28.553 million shares to 333.656 million shares on Friday as against 362.210 million shares posted on Thursday, the capitalization declined by 0.24 percent or 17.911 billion rupees (179.117 million U.S. dollars) to 7.326 trillion rupees (73.262 billion U.S. dollars), whereas the trading value slid by 15.38 percent or 2.178 billion rupees (21.782 million U.S. dollars) to 11.987 billion rupees (119. 877 million U.S. dollars).

During the week under review, the top Pakistani bourse witnessed total volumes of 1.577 billion shares at average daily turnovers of 315.589 million shares.

Among 368 active scrips on Friday, the prices of 194 issues advanced, 148 skidded lower, whereas values of 26 other companies stayed unchanged.

TRG Pakistan Limited, Pak Elektron Limited, and Southern Electric were the top traded companies with turnovers of 38.596 million shares, 30.543 million shares, and 25.095 million shares, respectively.

Unilever Foods was the top price gainer with increment of 367 rupees (3.67 U.S. dollars) to 8,390 rupees (83.90 U.S. dollars) while on the flip side Rafhan Maize led the major price shedders with decrement of 180 rupees (1.8 U.S. dollars) to 8,800 rupees ( 88 U.S. dollars). Endi