KSE sheds 29 mark in sixth straight bearish session

Equities at Pakistan's Karachi Stock Exchange (KSE) recorded bearish trading activities for sixth straight day on Thursday as investors stayed cautious amid June- end closing while selling by institutions and foreign investors also impacted negatively on the overall market sentiments.
The benchmark KSE 100-Index plunged by 1.66 percent or 483.61 points to 28,674.37 points on Thursday as compared to 29,157.98 points posted on Wednesday.
The KSE All Share Index skidded lower by 1.62 percent or 348.76 points to 21,238.72 points, the KSE 30-Index slumped by 1.71 percent or 342.55 points to 19,717.18 points, whereas the KMI 30- Index fell by 1.8 percent or 844.65 points to 46,071.05 points.
During Thursday's trading session, the key index touched an intraday high of 29,213.11 points as against an intraday low of 28, 553.91 points.
Pakistan State Oil lost 18.69 rupees per share, while Engro Corporation (-4.8 rupees per share), Dera Ghazi Khan Cement (-3.06 rupees per share), Mari Petroleum (-7.78 rupees per share), Pakistan Petroleum Limited (-5.08 rupees per share), United Bank (- 4.37 rupees per share), and Pakistan Telecommunication Company Limited (-1.40 rupees per share) also ended on the losing side.
Market volumes improved by 21.761 million shares to 193.348 million shares, capitalization reduced by 110.941 billion rupees ( 1.109 billion U.S. dollars) to 6.787 trillion rupees (67.875 billion dollars), whereas trading value swelled by 2.849 billion rupees (28.497 million dollars) to 9.672 billion rupees (96.729 dollars).
Among 367 active scrips Thursday, prices of 300 issues ended in red zone, 54 stayed green, whereas values of 13 other companies remained unchanged.
Lafarge Pakistan, Fauji Cement, and Pakistan Telecommunication Company Limited were the top traded companies with turnovers of 16. 709 million shares, 14.095 million shares, and 13.278 million shares, respectively.
Rafhan Maize was the top performer with increment of 199 rupees (1.99 dollars) to 10,799 rupees (107.99 dollars) while on the other hand Pakistan Tobacco led the major price shedders with decrement of 64.66 rupees (64.66 U.S. cents) to 1,322.67 rupees ( 13.23 dollars).