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ISLAMABAD, Oct. 28 (Xinhua) -- The Pakistan Stock Exchange (PSX) stayed on the bearish track for the sixth straight day on Friday as investors remained on the selling counters in the backdrop of an intensified political turmoil in the Federal Capital.
The Pakistan Stock Exchange's benchmark KSE 100-Index declined by 0.29 percent or 114.43 points to 39,872.88 points on Friday when compared with 39,987.31 points recorded on Thursday. During the trading week that culminated on October 28, the main index slumped by 1,418.55 points as all the five trading sessions ended in the red territory. During the six-day bearish spell, the main index has given away 1,673.07 points.
The KSE All-Share Index shrank by 0.42 percent or 116.33 points to 27,357.50 points, the KSE 30-Index fell by 0.24 percent or 52.26 points to 21,817.88 points, the KMI 30-Index dipped by 0.17 percent or 112.89 points to 66,544.32 points, whereas the Islamic All-Share Index dropped 0.38 percent or 71.65 points to 18,772.90 points.
During Friday's trading session, the main index moved in a wider range of 524.32 points as it touched an intraday high of 40,061.24 points as against an intraday low of 39,536.92 points.
The tense political turmoil in the Federal Capital gave rise to a volatile session at the top Pakistani bourse.
However, Fauji Cement (FCCL) dodged the bears as it gained by 2.76 percent after it announced earnings per share of 3.94 rupees along with a one rupee per share cash dividend for the Financial Year 2016. Similarly, Nishat Mills Limited also managed to close up by 0.1 percent after announcing above-expectations earnings per share of 4.57 rupees.
Market volumes deflated by 14.44 percent or 55.454 million shares to 328.551 million shares on Friday when compared with 384.005 million shares posted on Thursday. During the week that ended on Friday, the Pakistan Stock Exchange recorded total volumes of 1.705 billion shares at average daily turnover of 341.179 million shares.
Market capitalization reduced by 0.43 percent or 34.933 billion rupees (342.48 million U.S. dollars) to 8.085 trillion rupees (79.266 billion U.S. dollars) whereas trade value decreased by 13.07 percent or 1.63 billion rupees (15.987 million U.S. dollars) to 10.845 billion rupees (106.332 million U.S. dollars).
Among 429 active scrips on Friday, prices of 264 issues depleted, 143 advanced, whereas values of 22 other companies stayed unchanged for the week.
Bank of Punjab, TRG Pakistan Limited, and Karachi Electric Limited were the top traded companies with turnovers of 47.802 million shares, 17.955 million shares, and 14.588 million shares, respectively.
Wyeth Pakistan Limited was the top price gainer with an increment of 147.45 rupees (1.45 U.S. dollars) to 3,123.72 rupees (30.62 U.S. dollars) while on the other hand Colgate Palmolive led the major price shedders with a decrement of 85 rupees (83.33 U.S. cents) to 1,640 rupees (16.08 U.S. dollars).
