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Roundup: Pakistan Stock Exchange back to bearish ways

Xinhua, January 20, 2016 Adjust font size:

The Pakistan Stock Exchange (PSX) returned to bearish ways on Wednesday after a day of respite as continuous foreign selling in oil and fertilizer stocks in the wake of depressed international oil prices kept hurting market sentiments.

The Pakistan Stock Exchanges (PSX) benchmark KSE 100-Index declined by 1.05 percent or 326.60 points to 30,766.01 points on Wednesday when compared with 31,092.61 points reported on Tuesday.

The KSE All Share Index fell by 0.72 percent or 156.78 points to 21,578.36 points, the KSE 30-Index slipped by 1.43 percent or 258.86 points to 17,839.37 points, the KMI 30-Index plunged by 1.61 percent or 854.96 points to 52,291.98 points, whereas the Islamic All Share Index plummeted by 0.91 percent or 134.87 points to 14,695.36 points.

During Wednesdays trading session, the key index moved in a bracket of 402.77 points as it touched an intraday high of 31,092.61 points as against an intraday low of 30,689.84 points.

Maple Leaf Cement ended in green zone mainly on the back of expected better result as the company announced 2.84 rupees per share earnings for its quarter ending December 31, 2015. Above-average volume was traded in the Sui Northern Gas Pipelines Limited (SNGPL) due to its result announced the other day.

Market volumes receded by 31.23 percent or 48.127 million shares to 105.999 million shares on Wednesday when compared with 154.126 million shares posted on Tuesday.

Market capitalization reduced by 0.62 percent or 40.844 billion rupees (400.435 million U.S. dollars) to 6.55 trillion rupees (64.218 billion dollars) whereas trade value dipped by 15.36 percent or 1.27 billion rupees (12.452 million dollars) to 7.001 billion rupees (68.638 million dollars).

Among 311 active scrips on Wednesday, prices of 208 issues moved southwards, 87 stayed northward, whereas values of 16 other companies stayed unchanged.

Sui Northern Gas Pipelines Limited, TRG Pakistan Limited, and Maple Leaf Cement were the top traded companies with turnovers of 11.054 million shares, 8.864 million shares, and 8.192 million shares, respectively.

Ghandhara Industries was the top price gainer with increment of 20.77 rupees (20.36 cents) to 439.67 rupees (4.31 dollars) while on the other hand Ferozsons Laboratories led the major price shedders with decrement of 47.24 rupees (46.31 cents) to 1,100.76 rupees (10.79 dollars). Endite