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Roundup: KSE falls after earthquake hits region

Xinhua, October 26, 2015 Adjust font size:

Pakistan's Karachi Stock Exchange (KSE) pared early gains after a 7.5-Magnitude earthquake hit the South Asian region on Monday.

The benchmark KSE 100-Index declined by 0.25 percent or 84.68 points to 33,860.64 points on Monday when compared with 33,945.32 points reported on Friday.

The KSE All Share Index shed 0.21 percent or 50.69 points to 23,718.55 points, the KSE 30-Index fell by 0.45 percent or 91.97 points to 20,195.54 points, whereas the KMI 30-Index slipped by 0.3 percent or 170.17 points to 56,552.49 points.

During Monday's trading session, the key index moved in a narrow range of 241.80 points as it touched an intraday high of 34,090.16 points as against an intraday low of 33,848.36 points.

Market opened on a positive note and gained 145 points at the start of the session. However, the main index lost grounds when news came in that the northern part of the country was hit by a 7.5-magnitude earthquake.

Engro Fertilizer (EFERT) announced its quarterly result which was in line with market consensus but the news failed to woo the investors as the scrip closed 0.4 percent down.

Major correction was seen in Engro Foods, Engro Corporation, and Fauji Fertilizer Company which went down by 4.2 percent, 1.3 percent and 0.8 percent, respectively.

Market volumes depleted by 27.45 percent or 55.518 million shares to 146.725 million shares on Monday when compared with 202.243 million shares posted on Friday.

The capitalization reduced by 0.2 percent or 14.499 billion rupees (139.419 million U.S. dollars) to 7.217 trillion rupees (69.401 billion U.S. dollars) while trade value skidded lower by 7.54 percent or 587.047 million rupees (5.644 million U.S. dollars) to 7.202 billion rupees (69.255 million U.S. dollars).

Pace Pakistan Limited, Bank of Punjab, and Pak Elektron Limited were the top traded companies with turnovers of 14.483 million shares, 11.579 million shares, and 9.322 million shares, respectively.

Bata Pakistan was the top price gainer with increment of 139 rupees (1.33 U.S. dollars) to 2,934 rupees (28.21 U.S. dollars) while on the flip side Nestle Pakistan SPOT led the major price shedders with decrement of 48.67 rupees (46.79 U.S. cents) to 9,698.33 rupees (93.25 U.S. dollars). Enditem