KARACHI: The Karachi Stock Exchange Monday witnessed bearish note all the day and also lost 33,000 level, shedding 290.69 551.09 points to drop to 32757.82 points at closing.
The market recorded the highest trading level of 33048.51 points and lowest level of 32497.42 points, with the volume of 100,639,970 shares, having Rs5.9 billion value. As many as 317 companies were active; of which 70 advanced, 231 declined and 16 remained unchanged.
Oil & gas marketing companies remained the highest traded sector with total volume of 28,843,300 shares, while Commercial banks remained second traded sector with a total volume of 21,628,700 shares.
Despite dropping share price, the three top traded companies were Sui South Gas with a volume of 22,347,000 and price per share of 42.44 (-2.15), Band of Punjab with a volume 14,144,000 of price per share of 9.47 (-0.22), TRG Pak Ltd with a volume 9,854,000 of price per share of 36.04 (-1.54).
The top three gainers were Exide (PAK) with price per share 967.59 (46.13), Sapphire Fiber with price per share of 768 (36.50) and Mari Petroleum with price per share of 688.98 (32.90).
The top three losers were Bata (Pak) XD with price per share of 3300 (-140.09), Siemens Pak with price per share of 920 (-43.75) and Ferozsons (Lab) per share of 1065.78 (-41.65).
Earlier, the stocks continued the Friday’s negative note and shed massive 304.25 points to drop to 32744.26 level. Till midday, the KSE dipped 1.14 per cent as benchmark KSE-100 index lost 377.74 points to reach 32670.77 level.
Overall last week, the bulls remained dominated. However, foreign selling trend persisted at the local bourse as foreigners offloaded shares worth $10.2 million during the week. Major selling was seen in chemicals and banking sector with selling of $5.5 and $4.3m, respectively.
Activity was observed across the board, particularly in blue chip stocks which had faced steep correction over the past three weeks as both traded value (+17.3 percent) and volumes (+16.9 percent) witnessed an uptick. Average daily volumes improved by 17 percent to 180.8m shares while traded value also increased by 17 percent to Rs8.9 billion/ $86.1m.
