The Karachi Stock Exchange’s 100-share index closed 30.43 points lower at 12,364.06 points against previous day’s closing of 12,394.49. The KSE-30 index lost 1.48 points or 0.01 per cent to close at 11,817.39 points.
Market turnover rose to 54.53 million shares compared to 32.82 million shares traded previously.
Ahsan Mehanti, Director at Arif Habib Investments, said that bearish activity was witnessed in the earnings announcement session amid thin trade.
Record earning announcement by MCB Bank, expectations for strong earning announcements in blue chip banks, cement, oil and fertilizer scrips this week invited investor interest, he said.
The KSE market capitalisation amounted to Rs3, 266.07 billion or $37.79 billion, while total ready market volume stood at Rs1.77 billion or $20.53 million.
Shares of 368 companies were traded yesterday. At the end of the day, only 172 stocks closed higher, 172 decreased and 101 remained unchanged.
Top gainers at the KSE were NIB Bank Limited, JS Investments Limited, Fauji Fertilizer Bin Qasim, J.O.V & Co and Azgard Nine.
APP adds from Islamabad: Islamabad Stock Exchange (ISE-10) witnessed bearish trend on Monday as the index shed 13.91 points to close at 2785.49.
Manager of First National Equity Islamabad M.M Hassan told APP that the markets remained rangebound with stock specific activity as key development expected in the coming days.
He said that major investors preferred to take position for intra-day with strategy of short-term buy on weakness with stop-loss and sell on strength.
Senior Equity Dealer, Ismail Iqbal Securities Pvt Ltd, Zaheer Ahmed said that market witnessed bearish trend because of technical correction which was due.
He said that POL, ATRL, PPL, LUCK, DGKC, NBP, FATIMA and FFBL remained favourite scrips for intra-day trading.
Total 26,000 shares were traded, 13,884 less as compared to previous day.
Out of 124 companies, the price of 45 companies’ shares increased while that of 79 ones decreased.
The price of top gainer Unilever Pakistan increased by Rs.51.01 while that of Siemens Engineering decreased by Rs.39.92 Byco Petroleum, Fatima Fertilizer and Engro Corporation were leaders with volume of 10,000, 5,000 and 4,000 shaers respectively.
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I think the main cause of lower edge is economy situation in pakistan
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