KARACHI: The stocks remained in bearish note till midday on Monday as the Karachi Stock Exchange benchmark KSE-100 index lost another 245.08 points to reach 32531.96 level.
The market recorded the highest trading level of 32777.04 points and lowest level of 32490.25 points, with the volume of 25,699,880 shares, having Rs2.8 billion value. As many as 245 companies were active; of which 99 advanced, 139 declined and 7 remained unchanged.
Commercial banks remained the highest traded sector with total volume of 9,382,300 shares, while engineering remained second traded sector with a total volume of 5,641,000 shares.
Despite decrease in share price, the three top traded companies were Habib Bank with a volume of 3,580,000 and price per share of 198.25 (-10.07), Bal.Glass with a volume 3,328,000 of price per share of 6.90 (-0.41) Pak Elektron with a volume 2,571,500 of price per share of 66.56 (-0.10).
The top three gainers were Siemens Pak with price per share 949.99 (24.48), AKD CapitalXD with price per share of 377.43 (17.97) and Cherat Pack with price per share of 294.29 (14.01).
The top three losers were Bata (Pak) XD with price per share of 3135 (-165), Murree Brewery with price per share of 952.61 (-50.13) and Indus Dyeing per share of 943.12 (-49.63).
Earlier, the stocks started keeping the last week’s bearish trend as the Karachi Stock Exchange shed 214.18 points to drop to 32562.86 points level in early trading.
Last week, the volatility persisted at Karachi stock market with the KSE 100-index closing down 0.8 per cent amidst speculation surrounding the US Fed interest rate decision and persistent foreign selling.
Overall participation also remained lackluster with average traded volumes posting a decline of 23 per cent as investors preferred to stay on the sidelines, while foreigners returned net sellers worth $10.2m. Major index heavyweight gainers during the week were oil & gas (+3.1 per cent WoW) and construction and materials (+0.8 per cent WoW) sectors.
