KSE index loses 43.45 points
Sunday, 20 December 2009
KARACHI, Dec 19 (Business Recorder): The Karachi share market Friday posted negative trend and KSE-100 index lost 43.45 points to close at 9,183.73 points from 9,227.18 points. The index hit 9,258.26 points intra-day high and 9,137.28 points low. The market witnessed low trading and the volume at ready counter declined to 96.8 million shares as compared to 206.854 million shares traded Thursday.
Market capitalisation declined by Rs 13.734 billion to Rs 2.646 trillion from Rs 2.66 trillion. Of 384 active scrips, 160 closed in positive and 201 in negative, while the value of 23 scrips remained unchanged. Bank of Punjab was the volume leader with 19.17 million shares and closed at Rs 20.97 after a decline of Re 0.39. Bank Al-Falah gained Re 0.02 to close at Rs 14.20 with 9.89 million shares. Pace (Pak) lost Re. 0.23 to close at Rs 5.92 with 6.01 million shares.
Meanwhile, the Karachi Stock Exchange (KSE) has introduced 'FIX' (Financial Information Exchange) Protocol. FIX is the industry-driven messaging standard that is changing the face of the global financial services sector, as firms use the protocol to transact in an electronic, transparent, cost-efficient and timely manner.
Nearly every major stock exchange and investment bank uses FIX for electronic trading, as do the world's largest mutual funds and money managers and thousands of smaller investment firms. "The KSE has selected the 'MixitFIX' product for its robustness and maturity gained in the US markets. This will standardise our offering enabling global reach hence providing mutual benefits to our members and their international trading partners," said KSE MD Adnan Afridi.
Market capitalisation declined by Rs 13.734 billion to Rs 2.646 trillion from Rs 2.66 trillion. Of 384 active scrips, 160 closed in positive and 201 in negative, while the value of 23 scrips remained unchanged. Bank of Punjab was the volume leader with 19.17 million shares and closed at Rs 20.97 after a decline of Re 0.39. Bank Al-Falah gained Re 0.02 to close at Rs 14.20 with 9.89 million shares. Pace (Pak) lost Re. 0.23 to close at Rs 5.92 with 6.01 million shares.
Meanwhile, the Karachi Stock Exchange (KSE) has introduced 'FIX' (Financial Information Exchange) Protocol. FIX is the industry-driven messaging standard that is changing the face of the global financial services sector, as firms use the protocol to transact in an electronic, transparent, cost-efficient and timely manner.
Nearly every major stock exchange and investment bank uses FIX for electronic trading, as do the world's largest mutual funds and money managers and thousands of smaller investment firms. "The KSE has selected the 'MixitFIX' product for its robustness and maturity gained in the US markets. This will standardise our offering enabling global reach hence providing mutual benefits to our members and their international trading partners," said KSE MD Adnan Afridi.