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Roundup: Lackluster PSX falls, but stays afloat 33k-mark

Xinhua, March 21, 2016 Adjust font size:

The Pakistan Stock Exchange (PSX) started off the fresh week on a bearish note on Monday as investors lacked interest in the directionless market in the absence of triggers.

The Pakistan Stock Exchange's (PSX) benchmark KSE 100-Index shed 0.17 percent or 57.53 points to 33,022.87 points on Monday when compared with 33,080.40 points reported on Friday.

The KSE All Share Index slipped 0.19 percent or 43.63 points to 22,652.46 points, the KSE 30-Index fell 0.34 percent or 66.08 points to 19,308.14 points, the KMI 30-Index drifted lower by 0.1 percent or 55.29 points to 57,591.23 points, whereas the Islamic All Share Index inched lower by 0.01 percent or 1.74 percent to 15,515.96 points.

During Monday's trading session, the main index moved in a remote range of 166.70 points as it touched an intraday high of 33,166.82 points as against an intraday low of 33,000.12 points.

Government of Pakistan's decision to impose regulatory import duty on steel led steel-millers like Mughal Iron and Steel Limited (MUGHAL), Crescent Steel & Allied Product (CSAP) and Amreli Steels Limited (ASTL) to finish higher in the range of 2 percent to 5 percent.

Despite approval of the auto-policy framework, the stocks like Pak-Suzuki Motor Company (PSMC), Indus Motors (INDU) and Honda Atlas Cars (HCAR) closed down 2.82 percent, 0.53 percent and 0.03 percent, respectively.

Market volumes receded by 28.83 percent or 49.83 million shares to 122.996 million shares on Monday when compared with 172.826 million shares reported on Friday.

Market capitalization decreased by 0.35 percent or 23.916 billion rupees (234.473 million U.S. dollars) to 6.858 trillion rupees (67.242 billion dollars) whereas trade value depleted by 34.73 percent or 2.789 billion rupees (27.352 million dollars) to 5.243 billion rupees (51.408 million dollars).

Among 336 active scrips on Monday, prices of 156 issues advanced, 150 declined, whereas values of 30 other companies stayed unchanged at previous week's levels.

Bata Pakistan was the top price accumulator with an increase of 160 rupees (1.56 dollars) to 3,360 rupees (32.94 dollars) while on the other hand Nestle Pakistan led the major price shedders with a decline of 281.66 rupees (2.76 dollars) to 6,418.33 rupees (62.92 dollars). Enditem