KARACHI
Stocks battered at KSE in the last trading session ahead of week long holidays for Eid.
At Karachi stock market benchmark 100-index shed 160.68 points or 0.53 percent to end the day at 30314.07 points compared to 30474.75 points of the last working day on Friday.
Ahsan Mehanti analyst at Arif Habib Corp said trades were led by second and third tier stocks amid concerns for deteriorating geo-political situation, dismal fertilizer sales data for June’14 and Article 245 of constitution invoked for security unrest in the country played a catalyst role in bearish activity despite strong earning announcements in banking sector.
KSE-Allshare index off by 101.28 points or 0.45 percent to finish the day at 22264.59 points, KSE-30 index down by 112.57 points or 0.53 percent to finish the day at 21081.23 points while KMI-30 index misplaced 504.36 points or 1.02 percent to conclude the session at 48982.68 points.
The day turnover of market in term of shares was 103.619 million shares after opening at 218.186 million shares and the value of traded shares reduced to Rs 5.292 billion from Rs 11.262 billion while the capitalisation of the market maintained at Rs 7.120 trillion compared to Rs 7.153 trillion of a day earlier.
Trading took place in 313 companies where losers beat the gainers 176 to 116 while the value of 21 stocks remained intact. Wyeth Pak Ltd was the biggest price loser of the day decreased by Rs 188.05 to Rs 3577.80 followed by Island Textile down by Rs 46.90 to Rs 895. Exide (PAK) XD and Hinopak Motor were the top gainers of the day increased by Rs 26.11 to Rs 548.43 and Rs 25.56 to Rs 536.79.
Active list was topped by Lafarge Pak with 21.647 million shares shed by Re 0.86 to Rs 15.94. Maple Leaf Cement was the second highest on volume chart with 6.638 million shares off by Rs 1.22 to Rs 31.08. It was followed by Cherat Cement with 6.610 million shares fell by Re 0.05 to Rs 87.46, Lotte Chemical with 6.029 million shares grew by Re 0.34 to Rs 7.84 and Fauji Cement with 5.876 millions shares down by Re 0.02 to Rs 20.83.