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Roundup: Pakistan Stock Exchange's bearish run enters 10th day

Xinhua, January 15, 2016 Adjust font size:

The Pakistan Stock Exchange (PSX) failed to rise above the continuous bearish spell on Friday as investors remained on the selling counters for the 10th straight day which forced the market to register the second straight week of absolute bearish trade.

The benchmark KSE 100-Index declined by 1.4 percent or 439.53 points to 31,001.49 points from Thursday's

31,441.02.

During the week that ended Friday, the main index slumped by 1,533.36 points as all the five trading sessions ended in red territory.

The KSE All Share Index plunged by 1.21 percent or 264.42 points to 21,657.54 points on Friday, the KSE 30-Index plummeted by 1.53 percent or 280.68 points to 18,058.21 points, the KMI 30-Index sank by 1.33 percent or 710.61 points to 52,835.14 points, whereas the Islamic All Share Index shed 1.35 percent or 201.22 points to 14,720.27 points.

During Friday's trading session, the key index moved in a range of 749.48 points as it touched an intraday high of 31,637.22 points as against an intraday low of 30,887.74 points.

Market volumes slipped by 27.70 percent or 52.692 million shares to 137.561 million shares on Friday, compared with Thursday's 190.253 million shares. During the week under review, the PSX witnessed total volumes of 657.155 million shares at an average daily turnover of 131.431 million shares.

Market capitalization depleted by 1.21 percent or 80.320 billion rupees (787.452 million U.S. dollars) to 6.568 trillion rupees whereas trade value dipped by 29.02 percent or 2.826 billion rupees to 6.913 billion rupees.

Among 331 active scrips on Friday, the prices of 230 issues pushed lower, 84 managed to stay above the bearish tide, whereas the values of 17 other companies stayed unchanged.

TRG Pakistan Limited, Pak Elektron Limited, and Jahangir Siddiqui Company Limited were the top traded companies with turnovers of 19.617 million shares, 7.367 million shares, and 6.688 million shares, respectively.

Sapphire Fiber was the top price gainer with increment of 31 rupees to 701 rupees while on the other hand Bata Pakistan led the major price shedders with decrement of 164 rupees to 3,300 rupees. Enditem