Selling pressure continues as index sheds 111 points (02012009)

KARACHI: Selling spree continued on the first day of new year at Karachi Stock Exchange (KSE) as 100-Index plunged by another 111.83 points to close at 5,753.18 on Thursday, reports said.
The turnover volume stood at 75.434 million shares as 114 scrips sustained losses while 106 recorded gains and 10 remained unchanged.
The selling pressure continued to weaken prices in the market amid absence of financial support.
The market capitalization was further eroded by Rs 31 billion to Rs 1.827 trillion amid panic selling.
WorldCall Telecom was the volume leader with a turnover of 6.716 million shares followed by Fauji Fertilizer (BQ) 6.357 million shares, TRG Pakistan 4.930 million shares, Pervez Ahmed 4.495 million shares and NIB Bank 3.870 million shares.
HUBCO closed at 15.09, NIB Bank 4.89, TRG Pakistan 2.05, Pak PTA 1.81, Fauji Fertilizer (BQ) 12.69 and WorldCall Telecom 3.10.
PPL recorded the highest gain of Rs 5.03 to close at 105.65 followed by Packages Ltd which went up by Rs 3.88 to 85.07 while Rafhan Maize dipped by Rs 119.07 to 2262.35 and Pak Services went down by Rs 21.53 to 409.09.-APP