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Roundup: Panicked investors keep Pakistan's KSE bearish for 4th day

Xinhua, January 7, 2016 Adjust font size:

Pakistan's Karachi Stock Exchange (KSE) reported fourth straight day of bearish trade on Thursday as panic kept gripping the local investors amid crackdown on a local brokerage house on allegations of insider trading.

The benchmark KSE 100-Index declined by 0.87 percent or 285.76 points to 32,682.50 points on Thursday when compared with 32,968.26 points recorded on Wednesday. During the four-day bearish run, the main index has lost 546.45 points.

The KSE All Share Index fell by 0.75 percent or 171.55 points to 22,843.59 points, the KSE 30-Index skidded lower by 1.15 percent or 222.63 points to 19,112.02 points, the KMI 30-Index slid by 1.13 percent or 633.05 points to 55,585.63 points, whereas the Islamic All Share Index trimmed down by 0.61 percent or 94.94 points to 15,526.49 points.

During Thursday's trading session, the key index moved in a narrow range of 317.31 points as it scaled an intraday high of 32,969.03 points as against an intraday low of 32,651.72 points.

Market volumes improved by 35.14 percent or 35.323 million shares to 135.851 million shares on Thursday when compared with 100.527 million shares posted on Wednesday.

Market capitalization slumped by 0.74 percent or 51.741 billion rupees (507.268 million U.S. dollars) to 6.919 trillion rupees (67.836 billion dollars) while on the other hand trade value augmented by 31.78 percent or 2.206 billion rupees (21.631 million dollars) to 9.148 billion rupees (89.690 million dollars).

Among 337 active scrips on Thursday, prices of 236 issues depleted, 86 advanced, whereas values of 15 other companies stayed unchanged.

Southern Electric, TRG Pakistan Limited, and Pak Elektron Limited were the top traded companies with turnovers of 9.287 million shares, 6.776 million shares, and 6.270 million shares, respectively.

Ferozsons Laboratories was the top price gainer with increment of 59.32 rupees (58.16 cents) to 1,272.43 rupees (12.47 dollars) whereas on the flip side Unilever Foods led the major price shedders with decrement of 100 rupees (98.04 cents) to 6,000 rupees (58.82 dollars). Enditem