KARACHI: The Karachi Stock Exchange witnessed another trading day with bearish trend and crashed on Monday, losing 699.03 points or 2.12 per cent to drop to 32261.25 points level at closing.
The market recorded the highest trading level of 32994.19 points and lowest level of 32195.31 points, with the volume of 88,825,660 shares, having Rs5,910,712,051 value. As many as 331 companies were active; of which 52 advanced, 268 declined and 11 remained unchanged.
Oil & gas marketing companies remained the highest traded sector with total volume of 3,371,900 shares, while the Commercial banks remained second traded sector with a total volume of 3,191,600 shares.
Despite losing share price, the three top traded companies were K-Electric Ltd with a volume of 13,255,000 and price per share of 7.20 (-0.08), TRG Pak Ltd with a volume 9,323,500 of price per share of 37.25 (-1.28), Silk Bank Ltd with a volume 7,425,000 of price per share of 1.88 (0.00).
The top three advancers were Pak TobaccoXD with price per share 1050 (31), Colgate PalmoXD with price per share of 1498 (9.99) and AKD CapitalXD with price per share of 187.56 (8.93).
The top three decliners were Exide (PAK) with price per share of 929.03 (-48.89), Hinopak Motor with price per share of 1002 (-43.16) and Sapphire Fiber per share of 705 (-36.25).
Earlier, the bearish trend started the new trading week as the Karachi Stock Exchange benchmark KSE-100 index dropped 96.55 points to drop to 32863.72 points level with the total volume of 6,351,300 shares. Till midday, the KSE dipped by 1.22 per cent by losing 401.03 points to reach 32559.24 level.
Last week, the local stock continued to plunge amidst incessant foreign selling and week local sentiments, as the KSE-100 index closed down 2.6 percent weekly. Activity in index heavyweights was visible given 0.6 percent WoW increase in average traded value despite 18 percent WoW decline in average traded volumes at the bourse.
Average daily volumes declined by 18 percent to 143.3mn shares while traded value increased by 1 percent to Rs6.6 billion/$63.0m. Foreigners were net sellers this week with selling of $13.1m, taking month-to-date selling to $44.9m. Major selling was seen in Banking and Chemicals sector with net selling of $6.0m and $5.7m, respectively.
