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The Pakistan Stock Exchange (PSX) stayed bearish for a third straight day on Thursday largely due to declining trends in the international oil markets which hurt the sentiments at the local bourse.
The Pakistan Stock Exchange's benchmark KSE 100-Index fell by 0. 18 percent or 70.91 points to 39,738.67 points on Thursday when compared with 39,809.58 points recorded on Wednesday. During the three-day bearish run, the main index has spilled 284.35 points.
The KSE All-Share Index dipped slightly by 0.04 percent or 11. 30 points to 26,751.26 points, the KSE 30-Index declined by 0.49 percent or 110.03 points to 22,555.25 points, the KMI 30-Index slid by 0.36 percent or 250.22 points to 69,153.52 points, whereas the Islamic All-Share Index dipped by 0.17 percent or 31.23 points to 18,647.93 points.
During Thursday's trading session, the main index strolled in a narrow range of 176.96 points as it touched an intraday high of 39, 899.74 points as against an intraday low of 39,722.78 points.
A decline in international crude prices hurt sentiments at the Pakistani equity market as the local biggies Pakistan Oilfields Limited (POL) and Pakistan Petroleum Limited (PPL) nosedived in the range of 0.3 percent and 1.3 percent.
Engro Foods reported the best volume figure in 16 months to 12. 7 million shares but its price fell by 2.2 percent amid rumors of foreign selling.
Kot Addu Power Company (KAPCO) announced earnings of 10.31 rupees per share with a cash dividend of 9 rupees per share. Lucky Cement (LUCK) posted earnings per share of 45.99 rupees along with a cash dividend of 10 rupees per share but the stock declined 2 percent despite beating the market expectations due to overall negative sentiments.
Market volumes swelled by 4.28 percent or 15.014 million shares to 365.622 million shares on Thursday when compared with 350.608 million shares posted on Wednesday.
Market capitalization reduced by 0.13 percent or 10.225 billion rupees (100.249 million U.S. dollars) to 8.001 trillion rupees (78. 442 billion dollars) whereas trade value surged by 20.29 percent or 2.315 billion rupees (22.698 million dollars) to 13.723 billion rupees (134.547 million dollars).
Among 444 active scrips on Thursday, prices of 226 issues advanced, 203 depleted, whereas values of 15 other companies stayed unchanged.
Karachi Electric Limited, Byco Petroleum, and Aisha Steel Mills were the top traded companies with turnovers of 27.346 million shares, 26.186 million shares, and 23.606 million shares, respectively.
Bata Pakistan was the top price gainer with an increment of 99. 99 rupees (98.02 cents) to 4,100 rupees (40.19 dollars) while on the flip side Ferozsons Laboratories led the major price shedders with a decrement of 44.97 rupees (44.08 cents) to 854.43 rupees (8. 37 dollars).
(APD)
