KARACHI: The Pakistan Stock Exchange remained bearish on Monday as the benchmark 100-index shed 321.96 points to drop to 48888.54 points level over profit-taking at closing.
The stocks recorded the highest trading level of 49395.11 points and lowest level of 48821.75points, with the volume of over 352 million shares and value of Rs 23.79 billion. As many as 403 companies were active; of which 137 advanced, 249 declined and 17 remained unchanged.
K-Electric Ltd was the volume leader with 22.74 million shares, adding Rs 0.21 to finish at Rs 9.46. It was followed by Sui South Gas with 18.17 million shares, gaining Rs 0.90 to end at Rs 38.64 and Engro Fert with 16.94 million shares, gaining Rs 0.80 to close at Rs 70.39.
The top three gainers were Mari Petroleum with price per share of 1455.28 (47.69), Ghandhara Ind with price per share of 977.59 (46.55) and Abbott Lab share of 971.77 (35.42).
The top three losers were Unilever Foods with price per share of 5750 (-235), Rafhan Maize with price per share of 7810 (-230) and Wyeth Pak Ltd per share of 4710.21 (-191.29).
Earlier, the stocks opened bearish and shed 198 points to drop to 49012.15 points level. Despite regaining some early losses, the Pakistan Stock Exchange remained bearish till midday as the benchmark 100-index shed 25.81 points to reach 49184.69 points level.
On Friday, the profit-taking halted the upward streak of PSX with share index lost 306.52 points or (0.62%) and to close at 49,210.50 points. Market opened on a positive note as the index gained to make an intraday high of 156 points but came under selling pressure during the second half where investors booked profits. Overall volume declined by 514 million shares compared to 563 million shares changed hands yesterday, while traded value remained flat at Rs23.6 billion.
Banking sector led the decline in the market, as index heavyweights UBL (down 2.64%) and MCB (1.83%) lost value to close in the red zone. Profit-taking continued in the textile sector as the sector extended it loss to close (1.79%) lower.
