The day saw the benchmark 100-share index decreasing by 88.62 points to 13,642.20 points as compared to the 13,730.82 after the previous session. Ahsan Mehanti, Director at Arif Habib Investments Limited., said that the stocks closed bearish courtesy concerns for fall in global stocks and commodities on euro-zone debt crisis. Shares of 324 companies were traded on Monday and at the end of the day a total of 74 stocks closed higher, 178 declined and 72 remained flat. The overall value of shares traded during the day was Rs 1.863 billion.
The trading volumes at the ready-counter were recorded higher at 56.825 million shares against 84.863 million shares of the previous session. The trading value increasing to Rs 1.863 billion compared to Rs 2.972 billion of the previous session. The intraday high and low, respectively, stood at 13,776.76 and 13, 628.77 points. Market capitalisation declined to 3.482 trillion from 3.504 trillion. Limited foreign interest, uncertain Pak-US relations, power shortfall for industrial units and gas shutdown for fertiliser plants played the catalyst’s role in the bearish activity at KSE despite hopes for early settlement of security issues in the city, viewed Mehanti. KSE All share-index ended the day at 9,608.94 points, down 61.18 points or 0.63 percent, KSE 30-index stopped the day at 11,774.81 points, down 91.73 points or 0.77 percent while the KMI 30-index slumped by 168.73 points or 0.71 percent to end the day at 23,596.37.
Karachi Electricity Supply Company (KESC) was volume leader of the day, 8.303 million shares, followed by Engro Foods Limited, D.G.K Cement, Bank Al-Falah, Jahangir Siddiqi and Byco Petroleum with turnover of Rs 6.626 million, Rs 6.053 million, Rs 3.170 million, Rs 2.446 million and Rs 2.107 million shares respectively. The Colgate Palmolive and Philip Morris Pakistan, up Rs 45.08 and Rs 8.45, led highest price gainers while, Nestle Pakistan Limited and Exide Pakistan, down Rs 66.67 and Rs 9.90 respectively, led the losers.
Bears give a tutorial on euro debt crisis
