KSE falls 313 points amid political crisis

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KARACHI, Aug 12: Karachi Stock Exchange (KSE) fell big on Wednesday after a political party tendered resignation from National Assembly, Senate, and provincial assemblies against arrest of its workers in Karachi.
The benchmark KSE 100-Index declined by 0.86 percent or 313.17 points to 35,892.77 points on Wednesday when compared with 36,205. 94 points reported on Tuesday.
The KSE All Share Index slipped by 0.75 percent or 188.16 points to 25,043.18 points, the KSE 30-Index decreased by 1.13 percent or 252.30 points to 22,150.28 points, whereas the KMI 30- Index slumped by 0.95 percent or 573.92 points to 59,659.72 points.
During Wednesday’s trading session, the key index touched an intraday high of 36,309.97 points as against an intraday low of 35, 868.41 points.
Falling global equity markets also dampened the investors’ sentiments apart from the political crisis in the country.
Profit-taking was seen in Attock Petroleum Ltd (APL) and National Refinery Ltd (NRL) after their June result announcements which were in line with the market expectations.
Market volumes swelled by 9.64 percent or 31.660 million shares to 359.960 million shares on Wednesday as against 328.299 million shares posted on Tuesday, the capitalization reduced by 0.79 percent or 61.537 billion rupees to 7.748 trillion rupees, whereas the trading value increased by 12.88 percent or 1.535 billion rupees to 13.461 billion rupees.
Among 391 active scrips on Wednesday, the prices of 253 issues depleted, 132 advanced, whereas values of six other companies stayed unchanged.
Pace Pakistan Ltd, Silk Bank(R), and Karachi Electric Ltd were the top traded companies with turnovers of 39.652 million shares, 32.529 million shares, and 21.796 million shares, respectively.
Rafhan Maize was the top price gainer with increment of 398.89 rupees to 9,800 rupees  while on the other hand Bata Pakistan led the major price shedders with decrement of 129.44 rupees to 3,315 rupees.

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