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Karachi, May 11, 2015 (PPI-OT): KSE-100 index took deep dip as SECP forwarded 16 references of corruption in capital market to NAB and agreed to form joint task force to curb corruption. Political uncertainty also played its part in bearish activity.
At close, the Karachi Stock Exchange’s (KSE) benchmark 100-index down by 3.1% or 1,023 points to end at 32,506. Volumes at KSE-100 index clocked in at 163.8 million shares, up by 65.4%. Trading value at local bourse increased to Rs 10.8 billion against Rs 6.4 billion. The advance to decline ratio in the broader market remained in the favour of bears. Out of 333 scrips, 32 scrips advanced, 287 scrips declined while the value of 14 scrips remained unchanged.
Bearish sentiments prevailed at Karachi Stock Exchange. In Cement sector DGKC, KOHC and FECTC shed by 4.9%, 4.9% and 4.5% respectively, while FCCL, MLCF and LUCK hit the lower limit. In Power Generation and Distribution sector HUBC, KAPCO and NPL dipped by 3.41%, 5.76% and 4.53% respectively. In Technology and Communication sector SYS and AVN decreased by 3.43% and 4.10%, whereas PTC hit the lower circuit. In Fertilizer EFERT, FATIMA and FFBL plunged by 4.42%, 4.1% and 0.81% respectively.
In volume chart, KEL remained the volume leader with 22.90 million shares, closed at Rs 7.15 shed by Rs 0.52 followed by BYCO with 21.92 million shares closed at Rs 12.65 by decreasing Rs 0.93. PAEL remained 3 rd in the volume chart with 16.89 million shares and closed at Rs 58.14 by plunging Rs 3.06.
Major trading activities witnessed in Cement sector as traded above 32.64 million shares followed by Power Generation and Distribution sector with 30.96 million shares. Technology and Communication sector parked at 3 rd place by trading above 25.79 million shares. Top gainers of the day were Bata (Pak) and Shield Corp. with price change of Rs +60.00 and Rs +3.69 respectively. While top losers of the day were Unilever Foods and Siemens Pak with the price change of Rs -269.50 and Rs -57.78 respectively.