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Roundup: Pakistani stocks extend losses as profit-taking continues
Last Updated: 2018-08-09 11:02 | Xinhua
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The Pakistan Stock Exchange (PSX) recorded second straight day of bearish trade on Wednesday as investors remained active on the selling counters in anticipation of quick profits amid a rise in political temperature in the country after opposition parties rejected the results of the general elections.

The Pakistan Stock Exchange's benchmark KSE 100-Index dipped slightly by 0.07 percent, or 28.27 points, to close at 42,731.86 points on Wednesday when compared with a closing of 42,760.13 points reported on Tuesday. The key index is currently trading 19.19 percent, or 10,144.6 points, below its all-time historic peak of 52,876.46 points achieved on May 24 last year.

The main index has surged by 5.59 percent, or 2,260.38 points, since the start of the Year 2018, while on the other hand, it has plunged by 8.23 percent, or 3,833.43 points, since July 1, 2017. Since the beginning of the fiscal year of 2018-19 on July 1, 2018, the benchmark index has expanded by 1.96 percent, or 820.96 points, from 41,910.9 points on June 30, 2018, to 42,731.86 points on August 8, 2018.

During Wednesday's trading session, the main index moved in a narrow range of 215.6 points as it touched an intraday high of 42,857.12 points as against an intraday low of 42,641.52 points.

The KSE All-Share Index fell by 0.11 percent, or 35.47 points, to close at 30,910.57 points, the KSE 30-Index slipped marginally by 0.08 percent, or 16.48 points, to end at 21,133.54 points, the KMI 30-Index trimmed down by 0.22 percent, or 161.94 points, to conclude at 73,300.67 points, whereas the Islamic All-Share Index shed 0.18 percent, or 38.35 points, to finish the trading session at 20,900.53 points.

Market volumes shrank by 20.06 percent, or 48.048 million shares, to 191.469 million shares on Wednesday when compared with a trading of 239.518 million shares posted on Tuesday.

Market capitalization decreased by 0.06 percent, or 5.123 billion rupees (41.82 million U.S. dollars), to 8.76 trillion rupees on Wednesday when compared with a market capitalization of 8.766 trillion rupees witnessed on Tuesday.

Market value depleted by 8.5 percent, or 844.485 million rupees, to close at 9.091 billion rupees on Wednesday as against Tuesday's figure of 9.936 billion rupees.

Among 366 active scrips on Wednesday, the prices of 197 issues ended lower, 150 finished higher, whereas values of 19 other companies stayed unchanged at the midweek.

Pakistan International Bulk Terminal Limited (PIBTL), Oil and Gas Development Company Limited (OGDCL), and Lotte Chemical Pakistan Limited (LOTCHEM) were the top traded companies with turnovers of 11.077 million shares, 10.642 million shares, and 9.117 million shares, respectively.

Rafhan Maize emerged as the top price gainer of the day with an increment of 78 rupees to close at 8,047 rupees, while on the flip side Indus Dyeing led the major price shedders with a decrement of 30.15 rupees to finish the day at 573.04 rupees. (1 U.S. dollar = 122.5 rupees)

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