ISLAMABAD: Pakistan’s Karachi Stock Exchange (KSE) bucked a two-day bullish streak on Tuesday amid fall in international equity markets as investors preferred trimming their portfolios with results season about to expire.
The benchmark KSE 100-Index skidded lower by 0.79 percent or 268.36 points to 33,575.94 points on Tuesday when compared with 33, 844.30 points witnessed on Monday.
The KSE All Share Index fell by 0.51 percent or 120.84 points to 23,486.74 points, the KSE 30-Index declined by 0.96 percent or 209.59 points to 21,558.44 points, whereas the KMI 30-Index slid by 0.74 percent or 409.37 points to 54,681.60 points.
During Tuesday’s trading session, the key index touched an intraday high of 33,968.22 points as against an intraday low of 33, 544.85 points.
Small-capped Bank of Punjab (BOP) witnessed huge volume after announcing better-than-expectations earnings of 0.84 rupees per share.
MCB Bank also beat market expectations with earnings of 7.19 rupees per share, however profit-taking was seen due to prevailing weak sentiments. Similarly, Engro Corporation announced below- expectation result which forced investors to give the scrip a 2.22 percent decline.
On the other hand, Fauji Fertilizer Company (FFC) rallied by 1. 1 percent after announcing earning per share of 4.64 rupees with dividend of 3.94 rupees.
Market volumes improved by 25.37 percent or 66.838 million shares to 330.299 million shares on Tuesday as against 263.461 million shares posted on Monday, the capitalization reduced by 0.5 percent or 36.761 billion rupees (367.619 million U.S. dollars) to 7.273 trillion rupees (72.739 billion U.S. dollars), whereas the trading value shrank by 26.23 percent or 4.215 billion rupees (42. 156 million U.S. dollars) to 11.857 billion rupees (118.578 million U.S. dollars).
Among 382 active scrips on Tuesday, prices of 247 issues depleted, 115 advanced, whereas values of 20 other companies stayed unchanged.
Bank of Punjab, KASB Bank Limited, and Jahangir Siddiqui Company Limited led the top traded companies Tuesday with turnovers of 79.022 million shares, 67.725 million shares, and 27. 238 million shares, respectively.
Pak Tobacco XD was the top price gainer with increment of 37.14 rupees (37.14 U.S. cents) to 780.07 rupees (7.80 U.S. dollars) while on the flip side Shezan International led the major price shedders with decrement of 45.43 rupees (45.43 U.S. cents) to 875 rupees (8.75 U.S. dollars).
