KARACHI: Despite seeing fluctuation in trading, the Pakistan Stock Exchange Monday closed positive after gaining 85.95 point to take the tally to 39476.17 points level.
The stocks recorded the highest trading level of 39500.56 points and lowest level of 39378.27 points, with the volume of over 199.41 million shares, having about Rs 8 billion value. As many as 353 companies were active; of which 174 advanced, 159 declined and 20 remained unchanged.
Commercial banks were the top traded sector with 36,853,100 volume, while power generation and distribution remained second with 31,992,200 volume.
K-Electric Ltd was the volume leader with 25.71 million shares, gaining Rs 0.02 to finish at Rs 8.67. It was followed by Dewan Cement with 19.87 million shares, losing Rs 0.31 to close at Rs 16.29 and BoP with 16.366 million shares, gaining Rs 0.41 to close at Rs 8.80.
The top three gainers were Rafhan Maize with price per share 7700 (200.01), Bata (Pak) with price per share of 4000 (100) and Siemens Pak price per share of 919 (38).
The top three losers were Unilever Foods with price per share of 5208.01 (-271.99), Thal Ind.Corp with price per share of 245.10 (-12.90) and Ferozsons (Lab) per share of 1021.52 (-10.47).
Earlier, the PSE opened bullish with 92 points gain to reach 39482.53 points level in early trading. The stocks witnessed fluctuation in trading and dropped the early gains to reach 39416.83 points level after gaining 27 points till midday.
Last week, the benchmark KSE-100 index remained unchanged at 39,390 points (-0.4 percent WoW) and failed to cross the psychological 40,000 mark. The trading activity enhanced as evident from 23 percent WoW increase in average traded volumes (to 225mn shares/day) and 4 percent WoW increase in average traded value (to $103m/day), with most of the activity tilted towards news flow intensive small or mid cap sectors such as (1) Technology (+4.3 percent WoW), (2) Insurance (+2.1 percent WoW) and (3) Gas Utilities (+0.1 percent WoW) etc. Of the key sectors, (1) Banks (+0.5 percent WoW on unchanged policy rate in the Monetary Policy Statement announced on Saturday) and (2) Autos (+1.3 percent WoW on price hike of 2-3 percent announced by Pak Suzuki) appreciated whereas (1) Oil & Gas (-0.3 percent WoW on volatile crude oil prices), (2) Cements (-1.1 percent WoW on expectations of weak offtake numbers for July-16) witnessed profit taking during the week.
Average daily volumes witnessed a 23 percent increase, with volumes clocking in at 224.9mn shares, on the other hand, average daily values climbed 4 percent, to Rs10.9 billion.