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Closing: KSE opens after 5 days closure, loses 124 points

Closing: KSE opens after 5 days closure, loses 124 points

KARACHI: The Karachi Stock Exchange (KSE) 100-index opened with bearish trend on Thursday after five days closure due to weekend and Eid holidays. The KSE lost 124.29 points to reach 29978.94 points and volume of 52,510,770 shares.

Earlier, the rally started with downward trend, the KSE 100-index shed 50.48 points to reach 30052.75 points during midday trading on Thursday noon.

The highest increase witnessed in the price of the Murree Brewery with price per share 1018.50 (24.86), Shezan International with price per share of 954.00 (24.00) and Sapphire Fiber per share of 390.72 (18.60), while the Pak Tobacco with price per share of 855.50 (-44.50), Philip Morris Pak with price per share of 823.00 (-27.00) and Siemens Pakistan per share of 1055.50 (-24.00) remained the biggest losers of the day.

As a whole, 29.21 percent companies witnessed increase in their shares while 27.23 percent lost their share value and 2.48 percent companies remained stable.

Financial experts were of the view that investors were hoping positive trend in market but just because the traders were not active on the first day of opening, they showed little interest in big investment.