KSE garden sheds 352 points on sharp rupee depreciation

KARACHI
Stocks dropped across the panel on institutional profit-taking amongst increasing governmental disturbance and demonstrations across the nation following PTI resignations from Nationwide and Provincial devices, value professional noticed here on Thursday.
KSE standard 100-index lost 352.41 factors or 1.22 % to end the day at 28519.34 factors in comparison to 28871.75 factors of the last working day on Saturday.
Samar Iqbal AVP Equity Sales at Topline Investments said KSE-100 catalog dropped by 1.24pc, industry dropped due to continuous governmental doubt along with distinct Pak Rupee devaluation.
PAEL stayed quantity innovator with 18.8m shares (22pc of complete quantity traded) after better than predicted July one fourth result statement, she included.
KSE-Allshare catalog off by 246.66 factors or 1.17 % to close the day at 20871.67 factors, KSE-30 catalog reduced by 257.15 factors or 1.28 % to determine the dealing at 19880.15 factors while KMI-30 catalog reduce 603.64 factors or 1.28 % to stop the dealing at 46440.60 factors.
Analysts said hopeless current account information displaying $454m lack for Jul'14, predicted fall in remittances due to continuous governmental state of chaos and significant rupee uncertainty for a week performed a driver part in bearish action at KSE.
The day of turn of industry in term of shares was 82.522 thousand shares after starting at 68.009 thousand shares and the value of exchanged shares risen to Rs 3.986 billion dollars from Rs 3.751 billion dollars. The capitalisation of the local value industry managed at Rs 6.681 billion dollars in comparison to Rs 6.760 billion dollars of the past period.
Trading took place in 308 companies where 218 shut in adverse and 71 in natural while the value of 19 shares stayed unchanged. Wyeth Pak Ltd was the greatest cost gainer of the day up by Rs 152.57 to Rs 3204.18 followed by Khyber Cigarettes up by Rs 12 to Rs 335. Rafhan Maize Identify and Nestle Pak were the greatest cost nonwinners of the day reduced by Rs 53 to Rs 10922.50 and Rs 50 to Rs 7450.
Active list was lead by Pak Electron Ltd with 18.827 thousand shares as it shut at Rs 30.80 after starting at 30.15. It was followed by Financial institution of Punjab with 6.851 thousand shares off by Re 0.05 to Rs 8, Lafarge Pak with 5.166 thousand shares dropped by Re 0.20 to Rs 15.05, Walnut Foliage concrete with 3.448 thousand shares reduced by Re 0.25 to Rs 26.80 and JS Co with 2.942 thousand shares off by Re 0.22 to Rs 8.18.