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Roundup: Karachi bourse starts bearish after long weekend

Xinhua, September 28, 2015 Adjust font size:

Pakistan's Karachi Stock Exchange (KSE) Began a bearish start on Monday after a long weekend owing to Eid al-Adha holidays as direction-less investors played cautiously which also resulted in scarce turnover.

The benchmark KSE 100-Index declined by 0.4 percent or 132.82 points to 32,690.02 points on Monday when compared with 32,822.84 points recorded on Wednesday, the last working day before the Eid al-Adha holidays.

The KSE All Share Index slipped by 0.32 percent or 72.75 points to 22,902.50 points, the KSE 30-Index dropped by 0.39 percent or 77.30 points to 19,584.20 points, whereas the KMI 30-Index shed 0. 31 percent or 170.43 points to 54,569.26 points.

During Monday's trading session, the key index moved in a thin range of 330.20 points as it hit an intraday high of 32,977.62 points as against an intraday trough of 32,647.42 points.

Market volumes reduced by 14.87 percent or 19.360 million shares to 110.867 million shares on Monday when compared with 130. 228 million shares posted on Wednesday.

Market capitalization decreased by 0.22 percent or 15.526 billion rupees (149.296 million U.S. dollars) to 7.013 trillion rupees (67.432 billion dollars) while on the other hand trade value depleted by 9.02 percent or 470.262 million rupees (4.521 million dollars) to 4.743 billion rupees (45.609 million dollars).

Among 348 active scrips on Monday, prices of 226 issues went southwards, 96 managed to take the southward route whereas values of 26 other companies stayed stalled at pre-holidays levels.

Byco Petroleum, Karachi Electric Limited, and TRG Pakistan Limited were the top traded companies with turnovers of 14.192 million shares, 12.170 million shares, and 6.167 million shares, respectively.

Bata Pakistan was the top price gainer with increment of 154 rupees (1.48 dollars) to 3,239 rupees (31.14 dollars) while on the flip side Sapphire Textiles led the major price shedders with decrement of 43.99 rupees (42.29 cents) to 841.01 rupees (8.08 dollars). Endi