KARACHI: The bearish note continued at the Pakistan Stock Exchange mainly due to profit-taking as benchmark 100-index dropped 109.78 points to reach 33619.84 points level at closing on Wednesday.
The stocks recorded the highest trading level of 33757.48 points and lowest level of 33599.45 points, with the volume of 263 million shares, having about Rs10.37 billion value. As many as 359 companies were active; of which 155 advanced, 178 declined and 26 remained unchanged.
Cement was the top traded sector with 38,930,100 volume, while oil & gas marketing companies remained second with 38,641,000 volume.
The three top traded companies were Sui North Gas with a volume of 27,305,500 and price per share of 31.17 (1.06), Power Cement Ltd with a volume 20,562,500 of price per share of 10.57 (-0.08), TRG Pak Ltd with a volume 17,823,500 of price per share of 35.49 (0.02).
The top three gainers were Unilever FoodsXD with price per share 5439 (114), Wyeth Pak Ltd XD with price per share of 1870 (70) and Siemens Pak price per share of 875.54 (41.69).
The top three losers were Nestle Pak XD with price per share of 7000 (-99.99), Indus Dyeingwith price per share of 721.37 (-37.96) and Murree Brewery per share of 670.02 (-31.15).
Earlier, the bearish note entered another day as the Pakistan Stock Exchange opened shedding 17.41 points to reach 33712.21 points level in early trading. The bearish note continued till midday at the PSX as benchmark 100-index shed 80.53 points to reach 33649.09 points level.
The bearish note entered another day as the Pakistan Stock Exchange opened shedding 17.41 points to reach 33712.21 points level in early trading.
On Tuesday, the PSX witnessed a third consecutive flat session to close at 33729.62 points, declining by 30 points. Volatility prevailed in the market as the index traded between an intra-day high of 126.88 points and an intra-day low of 30.35 points to finally close on a flattish note (down 0.09%). MCB (down 0.40%) lost ground to close in the red zone as the bank reported lower than-expected 1Q2016 earnings of Rs5.41/share. On the other hand, EFOODS (rose 0.60%) gained as the company declared better-than-expected 1Q2016 earnings of Rs1.45/share. Volume decreased by 54% to 241m shares while value increased by 20% to Rs 8.8b/84$m. Continued interest was observed in SSGC and SNGPL which gained to close up 1.78% and 4.3% respectively, dealers said.
