News Column

KSE-100 index stock index sees dip

July 7, 2014

A profit-booking spree in Sui Southern Gas Company and Sui Northern Pipelines Limited halted bullish run at Pakistan'sKarachi Stock Exchange (KSE) on Monday but market participation remained on the lower side owing to holy Ramadan.

The benchmark KSE 100-Index fell by 0.31 percent or 90.88 points to 29,528.96 points on Monday as against 29,619.84 points posted on Friday.

The KSE All Share Index dipped by 0.31 percent or 67.74 points to 21,759.50 points, the KSE 30-Index dropped 0.17 percent or 34. 65 points to 20,401.57 points, whereas the KMI 30-Index depleted by 0.27 percent or 127.84 points to 47,780.66 points.

During Monday's trading session, the key index hit an intraday high of 29,645.70 points as against an intraday low of 29,495.72 points.

Market witnessed another dull session with low participation as investors stayed sidelines in the absence of any triggers amid holy Ramadan as the SSGC and the SNGP came under pressure after the Economic Coordination Committee (ECC) of Federal Cabinet deferred the decision to increase gas price.

Some buying at lower level was also witnessed in Pakistan Telecommunication Company Ltd after the company announced July 15 as board meeting for June result.

Market volumes shrank by 408,710 shares to 77.298 million shares, capitalization decreased by 21.639 billion rupees to 6.954 trillion rupees, whereas trading value shed 414.198 million rupees to 3.248 billion rupees.

Among 321 active scrips Monday, prices of 199 issues declined, 86 advanced, whereas values of 36 other companies stayed unchanged at previous week's levels.

Lotte Chemical, Fauji Cement, and Lafarge Pakistan were the top traded companies with turnovers of 11.212 million shares, 7.093 million shares, and 4.495 million shares, respectively.

Shezan International was the top price gainer with increment of 18.60 rupees to 1,030.26 rupees whereas Colgate Palmolive led the major price shedders with decrement of 51.21 rupees to 1,651 rupees.

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Source: Daily Messenger (Pakistan)

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