KARACHI: The Pakistan Stock Exchange (PSX) remained bearish on Tuesday as the benchmark KSE-100 shed 191.86 to drop to 41291.68 level at closing.
The stocks recorded the highest trading level of 41483.54 points and lowest level of 40913.93 points, with the volume of 143.39 million shares and value of Rs6.76 billion. As many as 334 companies were active; of which 119 advanced, 203 declined and 12 remained unchanged.
TRG Pak Ltd was the volume leader with 19.76 million shares, adding Rs0.58 to reach Rs35.80. It was followed by Aisha Steel Mill with 15.64 million shares, gaining Rs0.87 to end at Rs20 and Dost Steels Ltd with 7.89 million shares, shedding Rs0.09 to close at Rs13.64.
The top three gainers were Nestle Pakistan with price per share of 12398 (98), Khyber Tobacco with price per share of 1417.48 (67.49) and Hinopak Motor of 1045.45 (30.45).
The top three losers were Rafhan Maize with price per share of 7000.01 (-349.99), Mari Petroleum with price per share of 1449.80 (-34.78) and Atlas Battery share of 640.78 (-33.72).
Earlier, the PSX opened keeping previous day’s bearish note and shed 186 points to reach 41298 points level in early trading. The bearish note further deepened at the Pakistan Stock Exchange (PSX) as the benchmark 100-index added 394 points to reach 41090 points level till midday.
Yesterday, the stocks kicked off trading week with bearish note, pulling down the benchmark KSE-100 index by 604 points or (down 1.44pc) to close at 41,483.54 points. During the intraday KSE-100 went low by 41,414.12 points and high by 42,162. The negative sentiment occurred due to profit taking by investors said.
Top 5 index point decliners were ENGRO (down 4.7pc), LUCK (slip 4.4pc), PPL (decline 2.7pc), OGDC (slump 2.1pc) & DGKC (dip 5pc), eroding 278 points while SNGPL (up 3.5pc), ASTL (gain 5pc), AICL (rose 1.9pc), EFOODS (up 3.9pc) and UBL (gain 0.2pc) added 46 points. EFOODS surprised investors as lower marketing expenses restricted the company’s decline in its net earnings which was down 68 percent YoY in 3Q2017. Sector wise; Cement sector eroded 161 points as investors booked profits in DGKC (down 5pc) and LUCK (slip 4.4pc) after last week’s gain while PIOC hit its lower limit on announcement of disappointed 1QFY18 result, E&Ps declined 125 points while Fertiliser was down 105 points led by ENGRO which took away 86 points from the sector, OMC’s added 19 points.
Volume leaders for the day were DSL, ANL, SNGP, EPCL and TRG which cumulatively contributed 39.0 percent to total volumes. Average market volumes were down by 41.3 percent DoD to 153 million shares, similarly average traded value was declined 38.1 percent at Rs8 billion/$76.3 million.
