ROUNDUP:BEARS TAKE OVER KSE IN OPENING SESSION

ROUNDUP:BEARS TAKE OVER KSE IN OPENING SESSION

Equities at Pakistan’s Karachi Stock Exchange (KSE) recorded major bearish trading activities in the opening trading session of the fresh week on Monday as investors booked profits in selective stocks in cement, oil, and banking sectors after last week’s two-day bullish run.

The benchmark KSE 100-Index declined by 1.01 percent or 291.50 points to 28,629.63 points on Monday as against 28,921.13 points recorded on Friday.

The KSE All Share Index shed 0.89 percent or 191.59 points to 21,425.54 points, the KSE 30-Index fell by 1.11 percent or 223.89 points to 19,933.89 points, whereas the KMI 30-Index plunged by 1. 06 percent or 489.91 points to 45,529.91 points.

During Monday’s trading session, the key index hit an intraday high of 28,958.28 points as against an intraday low of 28,520.48 points.

Summit Bank recorded a surge by 1 rupee in its per share price to 4.41 rupees, Askari Bank gained 0.12 rupees to 19.13 rupees, while National Bank of Pakistan increased by 0.73 rupees to 58.35 rupees.

On the other hand, Pakistan State Oil lost 13.10 rupees to 393. 18 rupees, United Bank SPOT shed 8.64 rupees to 175.10 rupees, Pakistan Petroleum Limited gave away 5.33 rupees to 221.33 rupees, while Nishat Mills Limited dipped by 5.41 rupees to 110.72 rupees.

Market volumes dipped by 8.036 million shares to 182.017 million shares, capitalization lowered by 60.223 billion rupees ( 602.231 million U.S. dollars) to 6.866 trillion rupees (68.663 billion dollars), whereas trading value dropped by 1.746 billion rupees (17.467 million dollars) to 8.099 billion rupees (80.996 million dollars).

Among 355 active companies Monday, prices of 249 issues ended in red territory, 88 advanced in green zone, whereas values of 18 other scrips stayed unchanged.

Summit Bank, Lafarge Pakistan XD and Adamjee Insurance XD were the top traded companies with turnovers of 27.564 million shares, 10.265 million shares, and 8.434 million shares, respectively.

Philip Morris Pakistan was the top price gainer with increment of 33.51 rupees (33.51 U.S. cents) to 703.83 rupees (7.04 dollars) whereas Nestle Pakistan XD led the top price shedders with decrement of 225 rupees (2.25 dollars) to 8,075 rupees (80.75 dollars).