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Roundup: Pakistan's KSE falls for third straight day ahead of long weekend

Xinhua, December 22, 2015 Adjust font size:

Pakistan's Karachi Stock Exchange (KSE) recorded third straight day of bearish trade on Tuesday as foreign investors continued pulling out of the market ahead of the Christmas and New Year holidays.

The benchmark KSE 100-Index declined slightly by 0.05 percent or 17.88 points to 32,641.09 points on Tuesday when compared with 32,658.97 points recorded on Monday. During the three-day bearish trade, the key index has lost 468.45 points at scarce average daily turnovers of 94.62 million shares.

The KSE All Share Index inched up marginally by 0.02 percent or 4.88 points to 22,691.56 points, the KSE 30-Index dipped by 0.11 percent or 20.90 points to 19,171.26 points, the KMI 30-Index swelled by 0.14 percent or 79.52 points to 55,171.20 points, whereas the Islamic All Share Index moved up fractionally by 0.01 percent or 0.82 points to 15,390.64 points.

During Tuesday's trading session, the key index moved in a remote range of 218.55 points as it hit an intraday high of 32,835.49 points as against an intraday low of 32,616.94 points.

Conversation of Pakistan Petroleum Limited's (PPL) field into 2012 Policy and partial recovery in international oil prices helped stocks like Oil and Gas Development Company (OGDC) and PPL to gain from 0.03 percent and 0.42 percent, respectively.

Market volumes depleted by 13.60 percent or 12.365 million shares to 78.561 million shares on Tuesday when compared with 90.926 million shares posted on Monday.

Market capitalization reduced by 0.09 percent or 5.887 billion rupees (57.719 million U.S. dollars) to 6.872 trillion rupees (67.381 billion dollars) while trade value decreased by 15 percent or 1.035 billion rupees (10.149 million dollars) to 5.8768 billion rupees (57.531 million dollars).

Among 325 active scrips, prices of 170 issues skidded southward, 130 rose, whereas values of 25 other companies stayed unchanged.

TRG Pakistan Limited, Pak Elektron Limited, and Fauji Fertilizer XD were the top traded companies with turnovers of 4.883 million shares, 3.682 million shares, and 3.432 million shares, respectively.

Nestle Pakistan was the top price gainer with increment of 100 rupees (98.04 cents) to 7,350 rupees (72.05 dollars) while on the other hand Ferozsons Laboratories led the major price shedders with decrement of 28.63 rupees (28.07 cents) to 1,027.12 rupees (10.06 dollars). Endit