KSE starts fresh week on bearish note

APD

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Pakistan's Karachi Stock Exchange (KSE) recorded bearish trading activities on first day of the new week on Monday as local investors sold their holdings despite of bullish regional markets.

Japan's Nikkei jumped 1.58 percent, Hang Seng Index gained 1.62 percent, Australian stocks augmented by 1.86 percent while Shanghai Composite Index swelled by 0.5 percent on Monday.

Pakistan's benchmark KSE 100-Index declined by 0.56 percent or 184.79 points to 32,784.94 points on Monday when compared with 32, 969.73 points reported on Friday.

The KSE All Share Index fell by 0.55 percent or 126.58 points to 22,944.20 points, the KSE 30-Index decreased by 0.73 percent or 145.06 points to 19,629.66 points, whereas the KMI 30-Index reduced by 0.62 percent or 345.52 points to 55,201.24 points.

During Monday's trading session, the key index moved in a thin band of 319.32 points as it touched an intraday high of 33,058.13 points as against an intraday low of 32,738.81 points.

Market volumes depleted by 21.11 percent or 44.520 million shares to 166.367 million shares on Monday when compared with 210. 887 million shares traded on Friday.

Market capitalization dipped by 0.56 percent or 39.282 billion rupees (377.717 million U.S. dollars) to 7.022 trillion rupees (67. 528 billion dollars) whereas the trade value plunged by 20.53 percent or 2.048 billion rupees (19.699 million dollars) to 7.930 billion rupees (76.256 million dollars).

Among 374 active scrips on Monday, prices of 224 issues descended, 131 advanced, whereas values of 19 other companies stayed unchanged.

Byco Petroleum Limited, Pak Elektron XD, and TRG Pakistan Limited were the top traded companies with turnovers of 22.563 million shares, 15.658 million shares, and 15.421 million shares, respectively.

Al-Ghazi Tractors were the top price gainers with increment of 20.68 rupees (19.88 cents) to 434.43 rupees (4.17 dollars) while on the flip side Pakistan Tobacco led the major price shedders with decrement of 45 rupees (43.26 cents) to 950 rupees (9.13 dollars).