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Roundup: KSE falls further amid weak sentiments

Xinhua, February 18, 2016 Adjust font size:

The Pakistan Stock Exchange (PSX) remained bearish for the third straight bearish day on Thursday.

Investors remained on the selling counters amid below expectations financial results of the listed companies while uncertainty over international oil prices also hurt the sentiments.

The Pakistan Stock Exchange's (PSX) benchmark KSE 100-Index slid by 0.6 percent or 187.26 points to 31,282.44 points on Thursday when compared with 31,469.70 points recorded on Wednesday.

During the three-day bearish run, the main index has given away 645.71 points.

The KSE All Share Index declined by 0.64 percent or 140.64 points to 21,695.49 points, the KSE 30-Index dipped 0.6 percent or 109.71 points to 18,258.74 points, the KMI 30-Index plummeted by 0.82 percent or 437.83 points to 53,180.37 points, whereas the Islamic All Share Index plunged by 0.93 percent or 138.32 points to 14,689.20 points.

During Thursday's trading session, the main index moved in a broader range of 458.53 points as it touched an intraday high of 31,707.89 points as against an intraday low of 31,249.36 points.

Engro Corporation (ENGRO) announced consolidated earnings of 9.4 rupees per share and a final cash dividend of 7 rupees per share which was in line with the market expectations.

ENGRO also announced that it has appointed advisors for potential sale of 24 percent of Engro Fertilizer (EFERT) shares to local and international investors. ENGRO and EFERT closed at 1.5 percent up and 5 percent down, respectively.

Market volumes improved by 4.82 percent or 5.975 million shares to 130.024 million shares on Thursday as against 124.048 million shares posted on Wednesday.

Market capitalization reduced by 0.61 percent or 40.378 billion rupees (395.864 million U.S. dollars) to 6.593 trillion rupees (64.641 billion dollars) whereas trade value increased by 21.51 percent or 1.170 billion rupees (11.478 million dollars) to 6.613 billion rupees (64.835 million dollars).

Among 339 active scrips on Thursday, prices of 245 issues depleted, 71 advanced, whereas values of 23 other companies stayed unchanged.

Faysal Bank Limited, TRG Pakistan Limited, and Sui Southern Gas Company were the top traded companies with turnovers of 12.876 million shares, 8.142 million shares, and 8.019 million shares, respectively.

Murree Brewery was the top price gainer with increment of 19.40 rupees (19.02 cents) to 757.90 rupees (7.43 dollars) while on the other hand Indus Dyeing led the major price shedders with decrement of 42.49 rupees (41.66 cents) to 807.50 rupees (7.91 dollars). Enditem