Off the wire
• Weather forecast for world cities -- June 24  • Urgent: UN chief says to continue its work with both Britain, EU  • 1st LD: Xi puts forward five-point proposal to consolidate, deepen SCO cooperation  • Chronology of China's Belt and Road Initiative  • Weather forecast for major Chinese cities, regions -- June 24  • China central bank vows to maintain ample liquidity after Brexit  • Reform deal between UK, EU ceases to exist: EU top officials  • Chinese man sentenced to death for massive drug production  • China green-lights trading between yuan, ROK's won  • China green finance surges in 2015  
You are here: 　 Home

Roundup: PSX tracks global freefall after Britain exits EU

Xinhua, June 24, 2016 Adjust font size:

The Pakistan Stock Exchange (PSX) fell in unison with the global stock markets on Friday after the Britain decided to leave the European Union.

The Pakistan Stock Exchange's benchmark KSE 100-Index nosedived by 2.22 percent or 848.01 points to 37,389.88 points on Friday as against 38,237.89 points reported on Thursday. During the week that ended on June 24, the main index gave away 1,387.06 points as four out of five trading sessions ended in the red zone.

The KSE All Share Index fell by 1.93 percent or 491.33 points to 24,947.36 points, the KSE 30-Index plunged by 2.68 percent or 588.40 points to 21,347.16 points, the KMI 30-Index sank by 2.35 percent or 1,566.93 points to 64,972.81 points, whereas the Islamic All-Share Index slumped by 1.83 percent or 324.10 points to 17,433.23 points on Friday.

During Friday's trading session, the main index moved in a massive range of 1,412.70 points as it touched an intraday high of 38,237.89 points as against an intraday trough of 36,825.19 points.

Global stock markets plunged after the Britain decided to exit the European Union. Asian markets couldn't save them from the freefall with the Hong Kong's Hang Seng Index plunging by 2.92 percent or 609.21 points to 20,259.13 points, Shanghai Composite Index dropped 1.3 percent or 37.67 points to 2,854.29 points whereas the Shenzhen Composite Index lost 0.76 percent or 14.61 points to 1,900.60 points.

Market volumes surged by 108.38 percent or 123.181 million shares to 236.839 million shares on Friday when compared with 113.658 million shares posted on Thursday. During the week under review, the top Pakistani bourse reported total volumes of 778.40 million share at an average daily turnover of 155.68 million shares.

Market capitalization reduced by 1.93 percent or 147.294 billion rupees (1.444 billion U.S. dollars) to 7.478 trillion rupees (73.321 billion dollars) whereas trade value improved by 131.53 percent or 8.687 billion rupees (85.168 million dollars) to 15.292 billion rupees (149.921 million dollars).

Among 341 active scrips on Friday, prices of 276 issues depleted, 44 remained bullish, whereas values of 21 other companies faced the stalemate ahead of the weekend.

Karachi Electric Limited, WorldCall Telecom, and Dewan Cement Limited were the top traded companies with turnovers of 24.134 million shares, 15.231 million shares, and 13.174 million shares, respectively.

Nestle Pakistan XD was the top price accumulator with a hike of 50 rupees (49.01 cents) to 7,350 rupees (72.05 dollars) while on the flip side Rafhan Maize led the major price losers with a decrease of 430 rupees (4.21 dollars) to 8,170 rupees (80.09 dollars). Endit