KARACHI, Sept. 24 (Xinhua) -- Equities at Pakistan's Karachi Stock Exchange (KSE) recorded lackluster trading activities on first day of the new week after a long weekend here Monday as the market volumes hit six weeks low while the key index closed below the psychological 15,400 levels.
The benchmark KSE 100-Index fell by 0.5 percent or 77.12 points to close at 15,375.52 levels on Monday as against close of 15,452. 64 levels recorded on final trading day of the previous week as investors showed indifferent trading behavior owing to lack of triggers in the market.
The KSE All Share Index shed 0.52 percent or 56.84 points to end at 10,844.36 levels, the KSE 30-Index declined by 0.47 percent or 61.46 points to conclude at 12,963.11 levels, whereas the KMI 30-Index dropped 0.42 percent or 115.65 points to finish the inaugural trading session of the week at 27,182.49 levels here.
The Karachi Stock Exchange started the fresh week on a mild bullish note where the main index clocked the intraday highest level of 15,514.59 during initial trade. However, thin volumes remained a worry which reflected lack of interest by small and medium-capacity investors and soon the initial bullish trends were reversed.
After hitting the intraday highest level, the KSE 100-Index nosedived into the red ink where it kept losing value for the most part of the day and at one stage before the closing bells it hit the lowest level of the day of 15,353.96 levels before managing to close the day above 15,400 levels.
Market volumes declined by 66.484 million shares to six weeks lowest point of 85,780 million shares on Monday as against trading of 159.264 million shares recorded on Thursday.
Market capitalization reduced by 20.500 billion rupees (215.797 million U.S. dollars) to 3.891 trillion rupees on Monday when compared with market capitalization worth 3.912 trillion rupees witnessed on Thursday.
The State Bank of Pakistan (SBP) said Monday that it would purchase government paper from commercial banks later in the day in a four-day reverse repo in a bid to pour funds into the money market.
As per the figures released by the National Clearing Company of Pakistan Limited (NCCPL) for the first three weeks of the month of September, 2012, the foreign investors did net buying worth 647. 159 million rupees.
In broader market, a total of 319 companies changed hands during the course of trading on Monday as prices of 195 issues ended in the red territory, 100 managed to close in green color, while values of 24 other scrips stayed unchanged at Thursday's levels.
On a day when volumes hit six weeks low, the Karachi Electric Supply Company was the top traded company with trading of 8.754 million shares in its scrip, followed by Pakistan Telecommunication Company Limited, Nimir Industries Chemicals, NIB Bank Limited, Fauji Cement, and Engro Corporation with turnovers of 6.0005 million shares, 4.302 million shares, 2.956 million shares, 2.841 million shares, and 2.652 million shares, respectively.
Bata Pakistan Limited emerged as the top price gainer of the day as its per share value increased by 6.25 rupees to close at 984 rupees while on the other hand Siemens Pakistan led the major price shedders with its per scrip value ending down by 47.74 rupees at 907.25 rupees.