Pakistan’s KSE plunges further in 6th straight bearish session

Islamabad, Nov 25 (IANS) Pakistan’s Karachi Stock Exchange (KSE) witnessed bearish trading activities for sixth straight day on Wednesday as investors followed foreigners in exiting from the lackluster market which lacked major triggers amid a roll-over week.

The benchmark KSE 100-Index plunged by 1.11 percent or 371.73 points to 33,199.86 points on Wednesday when compared with 33,571. 59 points reported on Tuesday. During the six-day bearish trail, the main index has given away 866.01 points.

The KSE All Share Index plummeted by 1.03 percent or 241.73 points to 23,246.34 points, the KSE 30-Index slumped by 1.25 percent or 247.89 points to 19,578.69 points, the KMI 30-Index posted a decline of 1.18 percent or 657.52 points to 55,151.87 points, whereas the Islamic All Share Index sank by 1.24 percent or 193.72 points to 15,420.97 points.

During Wednesday’s trading session, the key index moved in a range of 490.97 points as it clocked an intraday high of 33,616.52 points as against an intraday trough of 33,125.55 points.

Market volumes depleted by 3.31 percent or 5.215 million shares to 152.526 million shares on Wednesday when compared with 157.742 million shares posted on Tuesday.

Market capitalisation reduced by 1.06 percent or Rs.75.540 billion ($740.591 million) to Rs.7.036 trillion ($68.984 billion), while trade value improved by 18 percent or Rs.1.193 billion ($11.703 million) to Rs.7.824 billion ($76.709 million).

Among 365 active scrips on Wednesday, the prices of 262 ended lower, 82 managed to grow, whereas the values of 21 other companies stayed unchanged.

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