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KSE 100-Index sheds 426.57 points

KARACHI: Karachi Stock Exchange (KSE) 100-Index witnessed severe decline on the first day of week losing 426.57 points with the negative change of 1.60 per cent ending the day at 26255.21 points, ARY News reported.

High and Low were 26741.56 and 26073.85 respectively.

Total volume traded in the market was 311,484,288 and in terms of value it was 10,487,132,075.

Total traded companies were 398, among them 56 advanced, 326 declined while 16 went unchanged.

Jah.Sidd. Co., Fauji Cement, Engro Fertilize Ltd. were the top traded companies with the volume 42,304,000, 13,694,000 and 12,825,500 respectively.

Samba Bank(R), Flying Cement and Jah.Sidd. Co. were top three advancers while Engro Corporation, D.G.K.Cement and Cherat Cement were top three decliners.

KSE continued the negative trend on the first day of week, as the last trading day (Friday) closed on the decline when it lost the two psychological limits.

According to the dealers the downward correction is likely to persist in the upcoming days.

Analysts said that the main reason behind the slump in KSE 100-index is technical correction and lack of interest in buying of foreign investors.

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