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Selling pressure continues at Karachi Stock Exchange


Selling pressure further pulled down prices at Karachi Stock Exchange (KSE) Thursday as 100-Index plunged by 100.18 points to close at 7,142.42, dealers said.
The turnover volume was low at 114.060 million shares as prices of 229 sustained losses while 91 recorded gains and 21 remained unchanged.
A dealer at a leading brokerage house said that the market was bullish in the morning, but profit taking eroded values. The market started going down on selling pressure with no support from financial institutions and Index closed in the negative zone.
The market capitalization was also eroded by about Rs 29 billion to Rs 2.127 trillion.
Bosicor Pakistan was the volume leader with a turnover of 15.541 million shares followed by Jahangir Siddiqui Co 9.075 million shares, D G Khan Cement 6.490 million shares, Bank of Punjab 5.009 million shares and POL 4.887 million shares.
Pakistan Oilfields closed at 147.52, Lucky Cement 55.16, NBP 72.51, Bank Al-Falah 11.84, Jahangir Siddiqui Co 26.54, Bank of Punjab 12.61, D G Khan Cement 23.56, MCB Bank 165.67 and Bosicor Pakistan 8.26.
Millat Tractors recorded the highest gain of Rs 12.96 to close at 272.30 followed by Treet Corporation which moved up by Rs 10.23 to 214.98 while Nestle Pak dipped by Rs 50 to 990 and Rafhan Maize went down by Rs 30 to 1320
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