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Roundup: Truculent sellers force 10th straight bearish day at KSE

Xinhua, December 1, 2015 Adjust font size:

Pakistan's Karachi Stock Exchange (KSE) pared early gains to record 10th straight day of bearish trade on Tuesday as investors kept turning their backs on bulls amid lack of major triggers and exodus of foreigners from the premier bourse.

The benchmark KSE 100-Index declined by 1.69 percent or 545.84 points to 31,709.36 points on Tuesday when compared with 32,255.20 points reported on Monday. During the 10-day bearish trail, the top Pakistani bourse has given away 2,356.51 points as it slid from 34,065.87 points on November 17 to 31,709.36 points on December 1.

The KSE All Share Index slipped by 1.61 percent or 365.01 points to 22,323.91 points, the KSE 30-Index shed 1.6 percent or 303.75 points to 18,653.44 points, the KMI 30-Index slumped by 1.89 percent or 1,009.99 points to 52,473.01 points, whereas the Islamic All Share Index sank by 1.91 percent or 286.16 points to 14,723.64 points.

During Tuesday's trading session, the key index travelled in a range of 798.41 points as it touched an intraday high of 32,464.52 points as against an intraday low of 31,666.11 points.

Market volume improved by 32.57 percent or 46.498 million shares to 189.256 million shares on Tuesday when compared with 142.757 million shares posted on Monday.

Market capitalization reduced by 1.44 percent or 99.056 billion rupees (971.139 million U.S. dollars) to 6.768 trillion rupees (66.361 billion dollars) while trade value augmented by 11.58 percent or 808.777 rupees (7.929 million dollars) to 7.793 billion rupees (76.404 million dollars).

Among 358 active scrips on Tuesday, prices of 298 issues depleted, 47 managed to stay positive, whereas values of 13 other companies stayed unchanged.

Pak Elektron Limited, Karachi Electric Limited, and Pace Pakistan Limited were the top traded companies with turnovers of 14.810 million shares, 13.598 million shares, and 12.810 million shares, respectively.

Service Industries Limited XD was the top price gainer with increment of 15 rupees (14.71 cents) to 865 rupees (8.48 dollars) while on the other hand Unilever Foods led the major price shedders with decrement of 310 rupees (3.03 dollars) to 5,890 rupees (57.74 dollars). Endit