KARACHI: The Pakistan Stock Exchange benchmark 100-Index closed lower on Tuesday, losing massive 741.14 points or 1.77pc.
The stocks recorded the highest trading level of 41974.22 points and lowest level of 41046.24 points, with the volume of over 130.146 million shares and value of Rs5.98 billion. As many as 349 companies were active; of which 59 advanced, 277 declined and 13 remained unchanged.
TRG Pak Ltd was the volume leader with 15.99 million shares, shedding Rs1.70 to reach Rs34.47. It was followed by Azgard Nine with 13.88 million shares, dropping Re1 to end at Rs13.88 and Sui South Gas with 7.72 million shares, adding Rs0.88 to close at Rs38.46.
The top three gainers were Unilever Foods with price per share of 6550 (300), Philip Morris Pak with price per share of 2956.67 (33.99) and Colgate Palmolive of 2375 (25).
The top three losers were Bata (Pak) with price per share of 2930.99 (-154.26), Mari Petroleum with price per share of 1519.05 (-79.95) and Pak Tobacco share of 1453.26 (-76.48).
Earlier, the bearish trend opened trading at the PSX as the benchmark 100-index shed 188 points to reach 41786 points level in early trading. The Pakistan Stock Exchange continued its downward rally till midday and lost another 694 points to drop to 41280 points level.
On Monday, the stocks kicked off new trading week in the red zone as the benchmark KSE 100-index fell to fresh 2017 low. The index shed 668 points and closed at 41,974 points. The market opened on a negative note and continued to decline throughout the day.
The day started with news about HBL (-5.0%), as the State Department of Financial Services sent a notice to HBL seeking imposition of a penalty of up to $630m, much higher than street expectations. Top 10 index point decliners were HBL (down 5%), UBL (3.4%), MARI (5%), ENGRO (2.3%), PPL (1.5%), MTL (5%), DAWH (2.7%), DGKC (3%), MCB (1%) & LUCK (down 1.7%); withholding 427 points.
Participation was minimal as volumes receded 42% to 103m shares while traded value fell 39% to Rs5.7b/$54m. Scrips of total 377 active companies traded in the session of which 266 closed in red, 86 in green while 25 remained unchanged.
