Stocks fall after MNA shot at in Karachi

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KARACHI, Aug. 18: Karachi Stock Exchange (KSE) fell Tuesday as jittery investors opted out of taking fresh positions after a life attempt on MQM’s Member of National Assembly Rashid Godil in Karachi.

The benchmark KSE 100-Index fell by 0.12 percent or 42.02 points to 35,546.03 points on Tuesday when compared with 35,588.05 points witnessed on Monday.

The KSE All Share Index dipped 0.15 percent or 36.09 points to 24,817.69 points, the KSE 30-Index dropped 0.21 percent or 45.35 points to 21,803.98 points, whereas the KMI 30-Index inched down marginally by 0.02 percent or 10.69 points to 59,126.02 points.

During Tuesday’s trading session, the key index touched an intraday high of 35,762.93 points as against an intraday low of 35, 408.02 points.

Engro Corporation (ENGRO) announced its 2Q2015 result which matched market consensus thereby leading the stock to close 0.25 percent higher.

Cement stocks rallied on the back of a possible increase in cement dispatches in the northern part of the country. As a result, Maple Leaf Cement (MLCF), Fauji Cement (FCCL) and Dera Ghazi Khan Cement (DGKC) increased 0.3-3.5 percent.

Market volumes shrank by 20.13 percent or 70.012 million shares to 277.832 million shares on Tuesday as against 347.845 million shares posted on Monday, the capitalization reduced by 0.14 percent or 10.828 billion rupees to 7.677 trillion rupees, whereas the trading value improved by 14.53 percent or 1.613 billion rupees to 12.716 billion rupees.

Among 385 active scrips on Tuesday, prices of 215 issues skidded lower, 145 jacked up whereas values of 25 other companies stayed unchanged.

Karachi Electric Ltd was the top traded company with trading of 41.202 million shares in its scrip, followed by Pace Pakistan Ltd and Dewan Cement with turnovers of 12.866 million shares and 12.712 million shares, respectively.

Bata Pakistan was the top price gainer with increment of 165 rupees to 3,480 rupees while on the other hand Atlas Battery led the major price shedders with decrement of 22.62 rupees to 751.38 rupees.

 

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