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Roundup: Pakistani stocks index off historic highs amid profit-selling

Xinhua, June 20, 2016 Adjust font size:

The Pakistan Stock Exchange (PSX) reversed a four-day record-smashing spree on Monday as investors opted for profit-taking on historic levels after five straight days of bullish trade last week.

The Pakistan Stock Exchange's benchmark KSE 100-index shed 0.79 percent or 307.12 points to 38,469.82 points on Monday when compared with 38,776.94 points reported on Friday. During the five-day bullish run, the main index piled on 1,836.06 points, which was also the biggest weekly gain in three years.

The KSE All Share Index skidded lower by 0.32 percent or 82.10 points to 25,550.07 points, the KSE 30-Index fell by 1.04 percent or 233.10 points to 22,137.72 points, the KSE 30-Index lost 0.06 percent or 41 points to 67,057.60 points, whereas the Islamic All-Share Index bucked the overall bearish trend with a gain of 0.13 percent or 23.26 points to close at 17,877.23 points.

During Monday's trading session, the main index moved in a healthy range of 511.74 points as it touched an intraday high of 38,981.56 points as against an intraday low of 38,469.82 points.

Market volumes improved by 10.78 percent or 14.519 million shares to 149.155 million shares on Monday when compared with 134.636 million shares posted on Friday.

Market capitalization skyrocketed by 0.32 percent or 24.733 billion rupees (242.49 million U.S. dollars) to 7.685 trillion rupees (75.346 billion dollars) whereas trade value swelled by 13.63 percent or 1.353 billion rupees (13.268 million dollars) to 11.285 billion rupees (110.644 million dollars).

Among 327 active scrips on Monday, prices of 184 issues depleted, 127 advanced, whereas values of 20 other companies stayed unchanged.

Pak Elektron Limited was the top price gainer with a trading of 19.244 million shares, followed by Karachi Electric Limited and Pakistan International Bulk Terminal Limited with turnovers of 14.301 million shares and 12.213 million shares, respectively.

Nestle Pakistan was the top price gainer with an increment of 245 rupees (2.40 dollars) to 7,545 rupees (73.97 dollars) while on the other hand Wyeth Pakistan Limited led the major price shedders with a decrement of 105 rupees (1.03 dollars) to 1,995 rupees (19.56 dollars). Endit