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Roundup: KSE plummets 2.79 pct amid panic selling

Xinhua, September 7, 2015 Adjust font size:

The carnage continued at Pakistan 's Karachi Stock Exchange (KSE) for second straight day on Monday as investors remained downbeat over sluggish regional markets while exodus of foreign investors kept bothering the local ones.

The benchmark KSE 100-Index slumped by 2.79 percent or 946.60 points on Monday when compared with 32,944.48 points recorded on Friday. During the two-day bearish streak, the main index has lost 1,502.99 points and was currently trading 9.07 percent below its all-time peak of 36,228.88 points which it achieved on August 6, 2015.

The KSE All Share Index plunged by 2.66 percent or 631.75 points to 23,105.02 points, the KSE 30-Index sank by 2.96 percent or 611.37 points to 20,016.46 points, whereas the KMI 30-Index depleted by 3.18 percent or 1,794.26 points to 54,574.23 points.

During Monday's trading session, the key index touched an intraday high of 33,891.08 points when compared with 32,760.76 points reported on Friday.

Market volumes shrank by 5.42 percent or 12.525 million shares to 218.485 million shares on Monday when compared with 231.011 million shares witnessed on Friday.

The market capitalization reduced by 2.81 percent or 206.100 billion rupees (1.981 billion U.S. dollars) to 7.136 trillion rupees (68.623 billion dollars) while the trading value improved by 11.01 percent or 1.055 billion rupees (10.152 million dollars) to 10.648 billion rupees (102.391 million dollars).

Among 375 active scrips on Monday, prices of 332 issues traveled southward, only 34 managed to keep the northward voyage, whereas values of 9 other companies stayed stable at previous week 's level.

Dewan Cement, Askari Bank SPOT, and Dewan Motors were the top traded companies on Monday with turnovers of 12.231 million shares, 10.110 million shares, and 10.059 million shares, respectively.

Island Textile was the top price gainer with increment of 30 rupees (28.84 cents) to 800 rupees (7.69 dollars) while on the flip side Rafhan Maize XD led the major price shedders with decrement of 100 rupees (96.15 cents) to 9,200 rupees (88.46 dollars). Endi