Bears keep KSE firmly in their claws | Pakistan Today

Bears keep KSE firmly in their claws

The day saw the benchmark 100-share index decreasing by 28.43 points to 13,717.30 points against 13,745.73 points of Wednesday Ahsan Mehanti, Director at Arif Habib Investments Limited., said that stocks closed lower amid thin trades in the post budget profit-taking at KSE as investor remained cautious ahead of SBP policy announcement due tomorrow. Total numbers of Shares of 351 companies were traded on Wednesday, and at the end of the day total 78 stocks closed higher, total 200 declined while 73 remained unchanged. The overall value of shares traded during the day was Rs 2.759 billion.
The trading volumes at the ready-counter were recorded higher at 110.652 million shares against 77.899 million shares of the previous session. The trading value decreased to Rs 2.759 billion compared to Rs 3.397 billion of the previous session. The intraday high and low, respectively, stood at 13,837.59 and 13, 646.50 points. Market capitalisation declined to 3.507 trillion from 3.517 trillion.
Limited foreign interest amid uncertain global stocks and commodities, concerns over fall in rupee dollar parity amid macroeconomic instability and uncertainty over Pak-US relations on NATO supply issue played the catalyst’s role in bearish sentiments, viewed Mehanti.
KSE All share-index ended the day at 9,657.59 points, down 28.28 points or 0.29 percent, KSE 30-index stopped the day at 11,871.14 points, down 14.33 points or 0.12 percent while the KMI 30-index slumped by 48.15 points or 0.20 percent to end the day at 23, 749.23.
He added that the uncertainty in global stocks and commodities on Europe debt crises kept foreign interest on lower side.
Jahangir Siddiqui Company was volume leader of the day, with 15.697 million shares, followed by DGK Cement, Azgard Nine, Bankislami Pakistan, Engro Corporation and Fauji Cement with turnover of Rs 7.487 million, Rs 5.254 million, Rs 4.747 million, Rs 4.506 million and Rs 3.773 million shares respectively.
UniLever Food and Rafhan Maize XD that went up Rs 111.68 and Rs 100.50 respectively, led the highest price gainers while, Nestle Pakistan XD and Indus Motor Company, that plummeted by Rs 20.32 and Rs 7.90 respectively, led the losers.

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