KSE bucks three-day bullish streak, falls below 34,500 pts

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The Karachi Stock Exchange (KSE) reported bearish trading activities on Tuesday after a three-day bullish streak that pumped over 1,000 points into the main index as investors’ participation remained stable.

The benchmark KSE 100-Index slipped by 0.78 per cent or 270.17 points to 34,456.34 points on Tuesday when compared with 34,726.51 points recorded on Monday. During the three-day bullish run, the main index surged by 1,189.09 points.

The KSE All Share Index receded by 0.65 per cent or 159 points to 21,186.61 points, the KSE 30-Index slipped by 0.8 per cent or 169.74 points to 21,048.67 points, whereas the KMI 30-Index decreased by 0.75 per cent or 433.90 points to 57,401.12 points.

During Tuesday’s trading session, the key index touched an intraday high of 34,912.45 points as against an intraday low of 34, 335.03 points.

Market volumes swelled slightly by 0.14 percent or 487,100 shares to 353.537 million shares on Tuesday when compared with 353. 050 million shares posted on Monday, the capitalization depleted by 0.71 per cent or Rs 53.219 billion to Rs 7.482 trillion whereas the trading value improved by 14.10 per cent or Rs 2.071 billion to Rs 16.769 billion.

Among 401 active scrips on Tuesday, prices of 270 issues declined, 112 increased, whereas values of 19 other companies stayed unchanged.

Dewan Cement, Sui Northern Gas Pipelines Limited and Pace Pakistan Limited were the top traded companies with turnovers of 43.640 million shares, 15.318 million shares, and 13.576 million shares, respectively.

Murree Brewery was the top price gainer with increment of Rs 48.81 to Rs 1,032.25 while on the flip side Unilever Foods led the major price shedders with decrement of Rs 288 to Rs 7,512.