KARACHI: The Pakistan Stock Exchange witnessed another bearish day over profit-taking as the benchmark shed massive 685.74 points to close at 51453.16 points level on Tuesday.
The stocks recorded the highest trading level of 52476.18 points and lowest level of 51278.93 points, with the volume of over 234 million shares and value of Rs16.31 billion. As many as 379 companies were active; of which 81 advanced, 289 declined and 9 remained unchanged.
Power Cement(R) was the volume leader with 23.98 million shares, shedding Rs0.28 to reach Rs2.51. It was followed by Engro Polymer with 11.62 million shares, losing Rs 0.90 to end at Rs31.63 and TRG Pak Ltd with 9.42 million shares, dropping Rs 0.57 to close at Rs52.07.
The top three gainers were Pak Tobacco with price per share of 1590 (40), Mari Petroleum with price per share of 1732.51 (20.79) and Jubile Life Ins share of 735 (15).
The top three losers were Rafhan Maize with price per share of 7315 (-100.67), Sanofi-Aventis with price per share of 2026.89 (-58.43) and Unilever Foods share of 6110 (-40).
Earlier, the stocks opened positive and gained 292 points to reach 52430 points level in early trading. The Pakistan Stock Exchange shed the early gains after losing massive 477 points as the benchmark 100-index also lost 52,000 mark and reached 51662 points level till midday.
On Monday, the stocks closed bearish amid institutional profit-taking, the bench mark shares index lost 498 points in the first session post budget and closed at 52,138.90 level.
Laggers on the index were HBL (slip 2.2pc), LUCK (2.8pc), UBL (2.6pc), DAWH (2.7pc) & PAEL (3.9pc), with negative contribution of 273points, while OGDC (gain 0.8pc), SNGP (1.6pc), MARI (1.6pc), HUBC (0.5pc) and PSMC (1.4pc) supported the index by adding 62 points. On the sector front, Banks eroded 202 points; Cement 126 points and Fertiliser 47 points; while E&P’s added 24 points and Power added 15 points.
Market participation slumped with volumes falling 53 percent d/d to 203 million shares, while traded value fell 37 percent to Rs13 billion/$124 million. Power Cement was today’s volume leader with 23 million traded shares. Scrips of total 375 active companies traded in the session of which 105 concluded in advance, 258 in decline while 12 remained unchanged.
