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Pakistan's PSX falls big amid bearish Asian markets

Xinhua, April 11, 2016 Adjust font size:

The Pakistan Stock Exchange (PSX) was among the bearish Asian stock markets on Monday after Chinese yen resumed its rally against the U.S. dollars while investors were perturbed by the global economy concerns.

The PSX's benchmark KSE 100-Index fell by 1.18 percent or 401.32 points to 33,566.22 points on Monday when compared with 33,967.54 points reported on last Friday.

The KSE All Share Index slumped by 1.03 percent or 242.52 points to 23,216.02 points, the KSE 30-Index went down by 1.12 percent or 219.63 points to 19,409.18 points, the KMI 30-Index plunged by 1.55 percent or 931.83 points to 59,032.38 points, whereas the Islamic All Share Index decreased by 1.24 percent or 199.27 points to 15,867.42 points.

During Monday's trading session, the main index moved in a rather healthier range of 607.47 points as it hit an intraday high of 34,154.70 points when compared with an intraday low of 33,547.23 points.

Despite of Chinese stocks showing signs of resurgence after stable inflation data, most of the Asian markets plummeted, led by Japan's Nikkei which sank 0.4 percent.

Market volumes swelled by 14.58 percent or 28.59 million shares to 224.712 million shares on Monday when compared with 196.121 million shares posted at the weekend.

Market capitalization dropped 1.02 percent or 72.216 billion rupees (708.0004 million U.S. dollars) to 7.003 trillion rupees (68.661 billion dollars) whereas trade value surged by 30.32 percent or 2.392 billion rupees (23.456 million dollars) to 10.282 billion rupees (100.811 million dollars).

Among 363 active scrips on Monday, prices of 279 issues declined, 64 advanced, whereas values of 20 other companies stayed unchanged at previous week's level.

TRG Pakistan Limited, Byco Petroleum Limited, and Jahangir Siddiqui Company Limited were the top traded companies with turnovers of 23.454 million shares, 15.561 million shares, and 11.161 million shares, respectively.

Wyeth Pakistan Limited was the top price gainer with increment of 82.28 rupees (80.67 cents) to 1,728.26 rupees (16.94 dollars) , while on the other hand Island Textile led the major price shedders with decrement of 36 rupees (35.29 cents) to 694 rupees (6.8 dollar). Enditem