Pakistan stocks extend losses over profit-taking

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Islamabad, Feb 10 (IANS) The Pakistan Stock Exchange (PSX) extended losses on Wednesday as investors continued booking profits in the wake of below-expectation corporate financial results.

The Pakistan Stock Exchange’s (PSX) benchmark KSE 100-Index fell by 0.92 percent or 299.61 points to 32,144.59 points on Wednesday when compared with 32,444.20 points recorded on Tuesday, Xinhua reported.

The KSE All Share Index slumped by 1.1 percent or 248.97 points to 22,359.54 points, the KSE 30-Index plunged by one percent or 189.66 points to 18,774.18 points, the KMI 30-Index slid by 0.79 percent or 434.99 points to 54,620 points, while the Islamic All Share Index plummeted by 0.8 percent or 122.22 points to 15,191.37 points.

During Wednesday’s trading session, the main index moved in a narrow band of 357.92 points as it touched an intra-day high of 32,464.31 points as against an intra-day low of 32,106.39 points.

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Market volumes swelled by 13.72 percent or 20.362 million shares to 168.801 million shares on Wednesday when compared with 148.438 million shares posted on Tuesday.

Market capitalisation decreased by 1.12 percent or 77.016 billion rupees ($755.062 million) to 6.794 trillion rupees ($66.609 billion) whereas trade value improved by 19. 94 percent or 1.550 billion rupees ($15.201 million) to 9.324 billion rupees ($91.418 million).

Among 336 active scrips on Wednesday, prices of 212 issues declined, 106 advanced, whereas values of 18 other companies stayed unchanged.

Pakistan Telecommunication Company Limited, Jahangir Siddiqui Company Limited, and TRG Pakistan Limited were the top traded companies with turnovers of 13.231 million shares, 12.751 million shares, and 11.731 million shares, respectively.

Shezan International was the top price gainer with increment of 28 rupees (27.45 cents) to 590 rupees ($5.78) while on the contrary Rafhan Maize led the major price-shedders with decrement of 400 rupees ($3.92) to 8,100 rupees ($79.41).

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