The Karachi stock market witnessed a correction phase on the last trading day of the week Friday following preference by the retail investors for profit-taking amid a plunge in the international markets.
The Karachi Stock Exchange (KSE) 100-share index shed 27.06 points or 0.36 percent to close at 7,471.28 points as compared to 7,498.34 points of the previous trading session. The KSE 30-share index decreased by 7.24 points and closed at 7,993.29 points as compared with 8,000.53 points. The KMI 30 index also lost 38.13 points to close at 11,173.03 points as against 11,211.16 points.
The market turnover fell 7.34 percent and traded 181.54 million shares as compared to previous session’s 195.94 million shares. The overall market capitalisation was down by 0.36 percent to close at Rs 2.205 trillion as compared with Rs 2.213 trillion.
Out of total 288 companies, 97 closed in the positive zone, 160 in negative while 31 remained unchanged.
“The US data on job losses in June triggered foreign selling, which took its toll at the KSE,” said senior analyst at Shahzad Chamdia Sec Ahsan Mehanti. “Fall in the international oil prices to $67 per barrel, uncertainty over the outcome of Pakistan and IMF officials’ meeting on release of the third tranche and minimal interest of institutional investors played a catalyst role in the negative activity.”
The KSE 100 index opened in the green zone with a gain of 42.30 points and at the end of the day closed at 7,471.28 points with a loss of 27.06 points.
DGK Cement was the volume leader in the share market with 23.33 million shares as it closed at Rs 29.58 from its opening at Rs 30.55, losing 97 paisas. Jah Siddi and Co traded 19.29 million shares as it closed at Rs 25.24 as against its opening at Rs 24.51 losing Rs 1.27. Lucky Cement traded 14.44 million shares as it closed at Rs 64.03 as compared to its opening at Rs 61.54 gaining Rs 2.51. OGDC traded 14.26 million shares as it closed at Rs 83.91 as compared with its opening at Rs 83.81 gaining 10 paisas.
The Karachi Stock Exchange (KSE) 100-share index shed 27.06 points or 0.36 percent to close at 7,471.28 points as compared to 7,498.34 points of the previous trading session. The KSE 30-share index decreased by 7.24 points and closed at 7,993.29 points as compared with 8,000.53 points. The KMI 30 index also lost 38.13 points to close at 11,173.03 points as against 11,211.16 points.
The market turnover fell 7.34 percent and traded 181.54 million shares as compared to previous session’s 195.94 million shares. The overall market capitalisation was down by 0.36 percent to close at Rs 2.205 trillion as compared with Rs 2.213 trillion.
Out of total 288 companies, 97 closed in the positive zone, 160 in negative while 31 remained unchanged.
“The US data on job losses in June triggered foreign selling, which took its toll at the KSE,” said senior analyst at Shahzad Chamdia Sec Ahsan Mehanti. “Fall in the international oil prices to $67 per barrel, uncertainty over the outcome of Pakistan and IMF officials’ meeting on release of the third tranche and minimal interest of institutional investors played a catalyst role in the negative activity.”
The KSE 100 index opened in the green zone with a gain of 42.30 points and at the end of the day closed at 7,471.28 points with a loss of 27.06 points.
DGK Cement was the volume leader in the share market with 23.33 million shares as it closed at Rs 29.58 from its opening at Rs 30.55, losing 97 paisas. Jah Siddi and Co traded 19.29 million shares as it closed at Rs 25.24 as against its opening at Rs 24.51 losing Rs 1.27. Lucky Cement traded 14.44 million shares as it closed at Rs 64.03 as compared to its opening at Rs 61.54 gaining Rs 2.51. OGDC traded 14.26 million shares as it closed at Rs 83.91 as compared with its opening at Rs 83.81 gaining 10 paisas.
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