Stock market plunges by 53 points

KARACHI: Stock market witnessed a downturn for third consecutive day of trading week as the Karachi Stock Exchange (KSE) benchmark 100-index on Wednesday closed down by 53.17 points or 0.19% to 28330.03 against 28383.20 points recorded in the last session.

The highest index of the day was recorded at 28510.19 points while the lowest level was 28298.69 points.

Turnover dropped to 134,129,380 shares against 134,720,450 shares on Tuesday, however, trading value increased by Rs 930 million to Rs 6.12 billion against 5.19 billion recorded in the last session. Market capital dipped to Rs 6.77 trillion against 6.80 trillion in the previous day.

Companies which reflected significant turnover were Lafarge Pak XD, Faysal Bank, Jah Sidd Co, Byco Petroleum, Summit Bank, TRG Pakistan Ltd, Maple Leaf Cement, Bo Punjab, Fauji Cement and PSO XDXB.

Philip Morris Pak reflected highest increase by Rs 36.95 per share to Rs 775.97 per shares. Shezan Inter share rate increased by Rs 33.50 to Rs 928. Unilever Foods XD was the higher loser by Rs 424.25 decrease in per share rate to Rs 8075.75. Rafhan Maize SPOT share rate dropped by Rs 84.99 to Rs 10400.

Of a total of 334 companies, active in the session, 130 closed in green, 174 in red and 30 remained unchanged.

KSE-30 index closed lower by 6.50 or 0.03% to 19764.08 points against 19770.58 points recorded in the last session. KSE-All Shares Index closed down at 21150.04 against 21224.84 points on Tuesday.

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