Trading volume at record 5m shares

KARACHI - Trading volume on the Karachi Stock Exchange yesterday fell to an all-time low of 5.349 million shares as investors hated to be the part of a terribly uncertain market plagued by the turmoil in the currency markets, weak economy and the FATA operation and stayed away.

By Our Correspondent (KSE Report)

Published: Sat 5 Jul 2008, 11:29 PM

Last updated: Sun 5 Apr 2015, 12:47 PM

The KSE 100-share index breached through the barrier of 12,000 points and was last quoted at 11,961.66, off 73.55 points as leading shares, notably OGDC, National Bank, PSO and some others fell sharply lower.

Never before in the trading history of the KSE,investors faced such a dilemma and could not precisely decide how to brave the threat to its very physical existence sans official patronage. "Why not the officials end this joke with the investors who had already lost billion of rupees in the market's creeping decline as the index has during the week lost well over 400 points," a leading analysts asks.

"Even in 1971 war and after the fall of Dacca, the market had not passed through such a lean period amid hopes the worst will atlast over," another said "but now everyone seems to be in agony and could not tell his inner grief over the developing situation on the country's premier market."

Although the KSE had witnessed lower single session turnover figures of, for instance, 0.361 million shares on April 23, 1979, 1.023 million shares on October 2, 1985 when the number of listed companies was too small and it was not opened to foreigners and it has no comparison with the market of beyond 2,000s both in number of listed companies and the market capital as well as higher corporate payouts.

However, the figure was too low as compared to its previous single session all-time high record of 1.122 billion shares established on April 16,2004. Minus signs again dominated the list, although some of the leading shares, notably Colgate Pakistan and Shell Pakistan managed to finish higher by Rs55.21 and 41.50 respectively but on the other hand Attock Petroleum and PSO fell by Rs4.23 and 4.20 respectively.

Turnover figure fell to a record of 5.349 million shares as compared to previous 11.117 million shares as losers held a fair lead over the gainers at 151 to 28, with 19 shares holding on to the last levels.

OGDC led the list of actives, off by Rs1.21 paisa at Rs120.72 on 1.204 million shares followed by National Bank, easy by Rs1.44 at Rs143.13 on 0.526 million shares.

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