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Roundup: KSE falls 0.74 pct amid better participation

Xinhua, June 25, 2015 Adjust font size:

Pakistan's Karachi Stock Exchange (KSE) recorded bearish trading activities on Thursday as investors sold shares amid foreign selling in the previous two trading sessions but overall market participation surged to the week's highest point with volumes of over 500 million shares.

The benchmark KSE 100-Index declined by 0.74 percent or 254.02 points to 34,077.92 points on Thursday when compared with 34,331. 94 points reported on Wednesday.

The KSE All Share Index fell by 0.66 percent or 159.97 points to 23,911.26 points, the KSE 30-Index reduced by 0.75 percent or 160.11 points to 21,315.92 points, whereas the KMI 30-Index decreased by 1.07 percent or 614.98 points to 56,976.08 points.

During Thursday's trading session, the key index touched an intraday high of 34,370.12 points as against an intraday low of 34, 034.52 points.

Investors remained cautious ahead of the fiscal year-end and selling by foreign investors in last two trading sessions. The Oil and Gas Development Company (OGDC) went down by 2.73 percent, Engro Corporation fell by 1.09 percent, while Maple Leaf Cement slipped by 4.79 percent.

On the flip side, Sui Southern Gas Company (SSGC) and Sui Northern Gas Pipelines Limited (SNGP) surged by 5 percent and 4 percent, respectively, on the back of expected gas tariff hike in July.

Market volumes improved by 40.16 percent or 157.363 million shares to 549.220 million shares on Thursday as against 391.857 million shares posted on Wednesday, the capitalization dropped 0. 67 percent or 49.315 billion rupees (493.157 million U.S. dollars) to 7.359 trillion rupees (73.590 billion U.S. dollars), whereas the trading value swelled by 7.62 percent or 924.102 million rupees (9.241 million U.S. dollars) to 13.046 billion rupees (130. 464 million U.S. dollars).

Among 363 active scrips on Thursday, prices of 216 issues went down, 124 ended higher, while prices of 23 other companies stayed unchanged.

Pace Pakistan Limited, Byco Petroleum, and WorldCall Telecom were the top traded companies with turnovers of 42.449 million shares, 41.296 million shares, and 35.559 million shares, respectively.

Indus Dyeing was the top price gainer with increment of 24.33 rupees (24.33 U.S. cents) to 1,059.33 rupees (10.59 U.S. dollars) while on the other hand Unilever Foods led the major price shedders with decrement of 362.37 rupees (3.62 U.S. dollars) to 7, 332.63 rupees (73.32 U.S. dollars). Endi