Roundup: Bears drag Pakistani equities in red trajectory

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ISLAMABAD, Feb. 18 (Xinhua) — The Pakistan Stock Exchange (PSX) recorded bearish trading activities on Thursday with key index shedding over 600 points on back of technical selling.

The PSX’s benchmark KSE 100-Index dipped by 1.34 percent or 625.40 points to close at 46,142.74 points on Thursday when compared with 46,768.14 points reported on Wednesday.

Selling pressure was seen in banks, cement and exploration and production sectors.

According to PSX experts, there was uncertainty among investors ahead of revival of the International Monetary Fund program and announcement of financial results in some major sectors, which contributed to the downward trend at the bourse.

The KSE All-Share Index declined by 0.90 percent or 288.86 points to close at 31,759.82 points, the KSE 30-Index slid by 1.76 percent or 344.28 points to end at 19,216.31 points, the KMI 30-Index decreased by 1.61 percent or 1,251.32 points to conclude at 76,692.88 points, whereas the Islamic All-Share Index depleted by 0.95 percent or 222.10 points to finish the trading session at 23,052.28 points.

The trading session on Thursday witnessed strong bearish trends which made the main index to travel in an exaggerated range of 696.90 points. During the course of the trading day, the key index touched an intraday peak of 46,817.51 points as against an intraday low of 46,120.61 points.

Market volumes were recorded at 577.838 million shares on Thursday. The turnover was 17.65 percent or 123.820 million shares lower when compared with 701.658 million shares traded hands on Wednesday.

The market value reduced by 18.60 percent or 5.301 billion rupees to close at 23.204 billion rupees on Thursday as against Wednesday’s closing figure of 28.505 billion rupees.

Among 366 active scrips on Thursday, the prices of 136 issues closed in the green ink, 210 ended down into the bearish lap, whereas values of 20 other listed companies remained.

Dost Steels Limited, Telecard Limited, and K-Electric Limited were the top traded companies with turnovers of 58.666 million shares, 34.349 million shares, and 29.301 million shares, respectively.

Bata Pakistan Limited emerged as the top performer of the day with an increment of 70.00 rupees per share to close at 1,838.00 rupees while on the other hand, Nestle Pakistan Limited led the worst performers with a decrement of 78.45 rupees per share to finish the trading session at 6,121.55 rupees. (1 U.S. dollar = 159.25 rupees) Enditem

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