KARACHI: The Pakistan Stock Exchange lost 431.41 points to drop to 49526.92 points level at closing as bearish trend continued on Friday.
The stocks recorded the highest trading level of 49961 points and lowest level of 49478.43 points, with the volume of over 208 million shares and value of Rs8.19 billion. As many as 350 companies were active; of which 101 advanced, 227 declined and 22 remained unchanged.
Power Cement was the volume leader with 25.69 million shares, shedding Rs0.39 to reach Rs1.20. It was followed by Engro Polymer with 18.79 million shares, losing Rs1.19 to end at Rs36.90 and WorldCall Telecom with 15.81 million shares, adding Rs 0.25 to close at Rs3.51.
The top three gainers were Jubile Life Ins with price per share of 800 (28), Abbott Lab with price per share of 969.70 (25.33) and Exide (PAK) of 1043.33 (21.17).
The top three losers were Bata (Pak) with price per share of 3620 (-178.60), Wyeth Pak Ltd with price per share of 2225 (-59.50) and Hinopak Motor share of 1656.62 (-34.36).
Earlier, the stocks started day on bearish note and shed 111 points to reach 49847 points level in early trading. The PSX continued shedding previous gains as the benchmark 100-index lost 445 points to drop to 49513 points level till midday.
On Thursday, the stocks market witnessed another lacklustre session as the benchmark shares index shed 205points, closing up at 49958.33 levels. Index point laggars were HBL (slip 3pc), DGKC (2.1pc), DAWH (2.4pc), OGDC (1pc) & ISL (3.7pc), with negative contribution of 197 points; while NESTLE (up 2pc), SEARL (1.9pc), HUBC (0.7pc), BAHL (1.2pc) and ICI (2.6pc) added 64 points. Major sectors witnessed minor profit-taking as Banks shed 84 points, cement 50 points and fertiliser 35 points.
Market participation veered from blue chips, volume rose 16pc whereas traded value inched up 4pc to Rs11.8b/$112m. Foreigners were net buyers of $14.7m, comprising of gross buy/sell $36/22m, with $3.4m net buying in Banks. Bank of Punjab led the market with 26m traded shares. Total 377 active companies participated in the session, of which 146 finished in advance, 217 in decline while 14 remained unchanged.
