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Roundup: Pakistan's Karachi bourse falls for 2nd straight day

Xinhua, June 17, 2015 Adjust font size:

Karachi Stock Exchange (KSE) fell for second straight day on Wednesday despite of Moody's rating upgrade for top five Pakistani banks as investors continued to trim their positions amid uncertainty over increasing political noise.

The benchmark KSE 100-Index declined by 0.1 percent or 34.30 points to 34,482 points when compared with 34,516.30 points posted on Tuesday.

The KSE All Share Index dipped slightly by 0.02 percent or 3.70 points to 24,163.16 points, the KSE 30-Index slipped by 0.18 percent or 39.57 points to 21,582.55 points, whereas the KMI 30- Index bucked the general bearish trend as it surged by 0.43 percent or 251.01 points to 58,385.45 points.

During Wednesday's trading session, the key index touched an intraday high of 34,631.17 points as against an intraday low of 34, 429.08 points.

Cherry picking was seen in Engro Corporation (ENGRO), Engro Foods (EFOODS) and Engro Fertilizers (EFERT) that increased by 0.9 percent, 0.4 percent and 1.5 percent, respectively.

Market volumes rose by 2.92 percent or 15.353 million shares to 540.401 million shares on Wednesday when compared with 525.048 million shares recorded on Tuesday, the capitalization marginally reduced by 0.01 percent or 1.035 billion rupees (10.356 million U. S. dollars) to 7.436 trillion rupees (74.362 billion U.S. dollars), whereas the trading value slid by 0.7 percent or 111.749 million rupees (1.117 million U.S. dollars) to 15.775 billion rupees (157. 755 million U.S. dollars).

Among 388 active scrips on Wednesday, prices of 184 issues advanced, 178 declined whereas values of 26 other companies stayed unchanged.

Karachi Electric Limited, Jahangir Siddiqui Company Limited, and Dewan Cement continued leading the top traded companies with turnovers of 143.972 million shares, 36.384 million shares, and 31. 689 million shares, respectively.

Rafhan Maize was the top price gainer with increment of 473 rupees (4.73 U.S. dollars) to 10,490 rupees (104.90 U.S. dollars) while on the flip side Murree Brewery led the major price shedders with decrement of 48.22 rupees (48.22 U.S. cents) to 995.90 rupees (9.95 U.S. dollars). Endi