Index falls below 9000 level on selling

KARACHI: Mounting selling pressure trimmed values at Karachi Stock Exchange (KSE) Friday as 100-Index plunged by 175.62 points to close at 8,936, dealers said.

A dealer said that market was opened on a positive note, but slipped on selling pressure in the first session.

The selling pressure continued in the second session till the close of trading, he added.

The turnover volume was the lowest at 97.120 million in the last one year as 238 scrips sustained loss and 131 advanced while 19 remained unchanged.

The market capitalization was eroded by Rs 51 billion to Rs 2.588 trillion.

Jahangir Siddiqui Co was the volume leader with a turnover of 10.274 million shares followed by Arif Habib Sec 7.297 million shares, Nishat Power 4.874 million shares, Attock Refinery 3.420 million shares and Pak PTA 3.311 million shares.

Nishat Mills closed at 59.09, Jahangir Siddiqui 29.48, Arif Habib Sec 48.43, OGDC 103.37, Attock Refinery 135.15 and Engro Chemical170.19.

Nestle Pak recorded the highest increase of Rs 24.50 to 1224.50followed by Bata Pak which moved up by 22.68 to 907.68 while Treet Corp dipped by 14.74 to 283 and Service Industries went down by Rs14.09 to 267.74