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Closing: KSE plunges 171 points on 1st trading day

Closing: KSE plunges 171 points on 1st trading day

KARACHI: The Karachi Stock Exchange (KSE) 100-index started the week on a negative note on Monday and lost 171.98 points to reach 29711.12 points and volume of 59,831,040 shares.

Continuing volatility of early trading, Karachi Stock Exchange (KSE) 100-index even could not come out of the pressure till midday, shedding 61.81 points to reach 29821.29 points with the total volume of 22,187,280 shares.

The highest increase witnessed in price of the Pace (Pak) Limited, P.T.C.L.A, D.G.K Cement XD and Fatima Fertilizer Company, while the Pak Services, Bata (Pak) Limited, Bhanero Tex XD and Wyeth Pak Limited remained the biggest losers of the day.

As a whole 17.19 per cent of companies witnessed increase in their shares while 39.83 per cent lost their share value and 1.49 per cent companies remained stable.

High and Low were 29927.54 and 29672.97 respectively. Total volume traded in the market was 59,831,040 shares.

An official of Topline Securities was of the view that low trading of oil and cement in recent weeks and lack of interest from traders caused low trading at KSE too. “Investors traded cautiously on disturbance at political front as the opposition party PPP (Pakistan Peoples Party) hosted a gathering of supporters in Karachi on Saturday,” they added