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KSE plunges 332pts on global sell-off
 
 
 
KSE plunges 332pts  on global sell-off

KARACHI - The impact of global sell off was felt at local bourse that resulted in the benchmark index declined by 332 points.
At Karachi equity market benchmark KSE-100 share index shrink by 1.23 percent to end the day at 26670.60 points compared to 27002.89 points of the last working day o Friday.
Analyst at Topline Asad Siddiqui said at one point the index fell as low as 26,586 levels, however, support came in from some institutions at lower levels.
Major selling was seen in index heavy weights like OGDC, MCB, Engro, PPL, NML and PSO. Slightly heavy future rollover position in Engro, NML and PSO also contributed towards the selling.
FFBL announced its result today, earnings were in line with industry expectations, however dividend came below expectation, which triggered selling, he added.
KSE-Allshare off by 231.01 points or 1.14 percent to close the day at 20710.39 points, KSE-30 off by 293.92 points or 1.50 percent to conclude the session at 19307.68 points while KMI-30 share index reduced 687.10 points or 1.54 percent to stop the day at 44029.61 points.
Trading took place in 423 companies where 269 closed in negative and 143 closed in positive while the value of 11 stocks remained intact. Rafhan Maize and Unilever Foods were the biggest price losers of the day decreased by Rs 395 to Rs 7505 and Rs 310 to Rs 9190. Nestle Pak and Island Textile were the top price gainers up by Rs 292.54 to Rs 11418.25 and Rs 70.97 to Rs 1490.40.
The day turn over of market in term of shares was 230.025 million shares after opening at 239.847 million shares and the value of traded shares was reduced by Rs 8.388 billion from Rs 9.749 billion. Capitalisation of the market settled at Rs 6.548 trillion compared to Rs 6.623 trillion of a previous session.
Active list was topped by Media Time Ltd with 18.068 million shares as it closed at Rs 3.74 after opening at Rs 3.20. It was followed by KESC with 14.309 million shares up by Re 0.09 to Rs 6.62.

 It was followed by Pak Elektron Ltd with 10.816 million shares off by Rs 1.11 to Rs 19.19, Azgard Nine with 9.392 million shares gained Re 0.24 to Rs 9.15 and Lafarge Pak with 9.217 million shares reduced by Re 0.86 to Rs 10.44. 

 
 
on epaper page 8
 
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