KARACHI: Despite gaining some points in the last session, Karachi stocks remained in negative zone till closing on Monday. The Karachi Stock Exchange benchmark KSE-100 index lost 118.07 points to drop to 32658.97 level.
The market recorded the highest trading level of 32777.04 points and lowest level of 32490.25 points, with the volume of 54,442,070 shares, having Rs5.8 billion value. As many as 318 companies were active; of which 128 advanced, 162 declined and 28 remained unchanged.
Technology & communication remained the highest traded sector with total volume of 21,942,000 shares, while commercial banks remained second traded sector with a total volume of 12,994,000 shares.
The three top traded companies were Habib Bank with a volume of 6,031,400 and price per share of 200.08 (-8.24), Bal Glass with a volume 5,014,000 of price per share of 6.64 (-0.67) Pak Elektron with a volume 4,711,500 of price per share of 66.86 (-0.20).
The top three gainers were Nestle Pak with price per share 7250 (249.89), Hinopak Motor with price per share of 1030.23 (28.58) and Siemens Pak with price per share of 47.50 (21.99).
The top three losers were Ferozsons (Lab) with price per share of 1055.75 (-37.38), Indus Dyeing with price per share of 959.47 (-33.28) and Murree Brewery per share of 970 (-32.74).
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. The stocks remained in bearish note till midday on Monday as the KSE-100 index lost another 245.08 points to reach 32531.96 level.
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.
