KARACHI: The Pakistan Stock Exchange (PSX) had a rollercoaster ride on Monday and dropped massive 401.32 points to reach 33566.22 points level at closing.
The stocks recorded the highest trading level of 34154.70 points and lowest level of 33547.23 points, with the volume of 225 million shares, having about Rs10.28 billion value. As many as 346 companies were active; of which 64 advanced, 262 declined and 20 remained unchanged.
Technology & communication was the top traded sector with 32,695,000 volume, while cement remained second with 26,495,000 volume.
The three top traded companies were TRG Pak Ltd with a volume of 23,454,000 and price per share of 33.13 (-0.05), Byco Petroleum with a volume 15,561,500 of price per share of 19.39 (0.64), Jah.Sidd. Co with a volume 11,161,000 of price per share of 23.24 (-0.77).
The top three gainers were Wyeth Pak Ltd XD with price per share 1728.26 (82.28), Nestle Pak SPOT with price per share of 7939 (39) and Bhanero Tex price per share of 674.95 (25).
The top three losers were Island Textile with price per share of 694 (-36), Shezan Inter with price per share of 475.33 (-25.01) and Ferozsons (Lab) per share of 820.46 (-20.79).
Earlier, the stocks started week with bullish note and gained 118.85 points to cross psychological barrier of 34,000 and reached 34086.39 points level in early trading. The PSX dropped the early gains and went to negative zone with 193.42-point decline till midday and reached 33774.12 points.
Last week, the stock market continued to make impressive gains as the benchmark KSE-100 index climbed 517 points (1.5 per cent) to close near 34,000-point barrier. The week started off on a positive note, with the cement sector leading the way as investors anticipated impressive sales figures from the cement sector in March. The oil and gas sector also contributed to gains by mid-week as oil prices rose following a decline in US inventory numbers. The KSE-100 index rose 497 points in the opening 3 days of the week. Average daily volumes rose a whopping 96.5% and were recorded at 275.3 million shares traded per day. Most of the activity was focused on lower-cap stocks which saw average daily values rise a relatively modest 43.6% to Rs10.5 billion per day.
