KARACHI: The Pakistan Stock Exchange Monday remained under pressure over political turmoil as the benchmark KSE-100 Index further shed 212.60 points to drop to 41099.99 points level.
The stocks recorded the highest trading level of 41336.43 points and lowest level of 41004.66 points, with the volume of over 123 million shares and value of Rs6.14 billion. As many as 359 companies were active; of which 92 advanced,24 8 declined and 19 remained unchanged.
Azgard Nine was the volume leader with 16.26 million shares, adding Rs0.40 to reach Rs12.86. It was followed by Chakwal Spinning with 12.07 million shares, shedding Re1 to end at Rs8.92 and TRG Pak Ltd with 8.07 million shares, losing Rs1.33 to close at Rs34.53.
The top three gainers were Unilever Foods with price per share of 6700 (200), Service Ind. Ltd with price per share of 1009.40 (48.06) and Pak Services of 1044.99 (44.99).
The top three losers were Rafhan Maize with price per share of 7000 (-150), Mari Petroleum with price per share of 1471.48 (-70.57) and Bhanero Tex share of 687.46 (-36.17).
Earlier, the stocks started new week on negative note after shedding 108 points to reach 41204 points level in early trading. The bearish note continued at the Pakistan Stock Exchange as the benchmark 100-index dropped another 138 points to drop to 41175 points level till midday.
The benchmark KSE-100 index lost 1,948 points (-4.6 percent) during the first three days of the week; however, spurt of positive sectors-related news flows helped the index gain 844 points (+2.1 percent) on Friday.
Overall, the KSE-100 index closed 1,097 points WoW lower (-2.6 percent) at 41,312, with activity still reasonably low as average traded volumes and traded value clocked-in at 140 million shares per day and $71 million per day, respectively.
The market participation remained thin, with first day of the week (89 million shares) marked the dullest day since mid-2015. Overall, ADTO reduced 5 percent to clock-in at 140 million shares while ADTV inclined by 20 percent to reach $71 million, during the week.
Major inflows, amounting $14.38 million and $6.7 million were witnessed from banks and companies, while Insurance and Brokers remains net sellers worth $15.4 million and $6.6 million, respectively. Whereas, foreign investors off loaded $9.75 million worth of equities during the week.
On the macro front, inflation numbers of 3.9 percent came-in for the month of September 2017, largely in-line with the market expectations. Resultantly, the CPI for the 1QFY18 stood at 3.4 percent, well below SBP target of 6 percent. Furthermore, during the week, SBP’s currency reserves tapered-off by $276 million (-1.95 percent WoW) to $13.8 billion (two-year low).
