KARACHI: The Pakistan Stock Exchange remained bearish on the first trading day of the week and lost 186.54 to drop to 39278.11 points level.
The stocks recorded the highest trading level of 39595.11 points and lowest level of 39248.68 points, with the volume of about 252.63 million shares and value of 9.94 billion. As many as 391 companies were active; of which 153 advanced, 221 declined and 17 remained unchanged.
Dewan Cement was the volume leader with 20.22 million shares, gaining Rs 0.16 to finish at Rs 22.10. It was followed by Byco Petroleum with 12.89 million shares, gaining Rs 0.71 to end at Rs 25.75 and Dewan Motors with 12.37 million shares, losing Rs 1.54 to close at Rs 32.52.
The top three gainers were Service Ind.Ltd with price per share of 1234.66 (58.77), Ghandhara Ind with price per share of 650.40 (30.97) and MithchellsFruit per share of 331.09 (15.76).
The top three losers were Murree Brewery with price per share of 1270.99 (-63.70), Sanofi-Aventis with price per share of 839.91 (-34.10) and Ferozsons (Lab) per share of 779.44 (-32.27).
Earlier, the bearish trend opened the new trading week at the stock market with 96.63 points loss as the benchmark 100-index reached 39368.02 points level in early trading. The bearish trend further deepened till midday as the PSE shed another 159.52 points to drop to 39305.13 points level.
Last week, the average volumes and value traded increasing by 60 percent WoW and 25 percent WoW, respectively. Foreigners again turned out to be net sellers ($3.4 million of net selling recorded) but strong participation by the local market more than absorbed rampant selling. The average daily volume increased 60 percent YoY to 371.7 million shares while the average daily value rose 25 percent to Rs12.7 billion/$121 million during the week. Foreigners were the net sellers of $3.3 million worth of shares during the week. Stocks in the food & personal care products sectors witnessed net selling of $14.8 million, while net buying of $5.8 million was seen in banking stocks.
