KARACHI: Opened with bullish note, the Pakistan Stock Exchange witnessed a rollercoaster day as the benchmark 100-index lost 307.12 points to drop to 38469.82 points level at closing on Monday.
The stocks recorded the highest trading level of 38981.56 points and lowest level of 38469.82 points, with the volume of 149 million shares, having about Rs 10 billion value. As many as 306 companies were active; of which 121 advanced, 175 declined and 10 remained unchanged.
Commercial banks was the top traded sector with 21,802,400 volume, while cable & electrical goods and distribution remained second with 20,649,050 volume
The three top traded companies were Pak Elektron with a volume of 19,244,500 and price per share of 67.88 (3.08), K-Electric Ltd with a volume 14,301,000 of price per share of 8.02 (-0.04), Pak Int.Bulk with a volume 12,213,000 of price per share of 32.61 (-0.49).
The top three gainers were Nestle Pak XD with price per share 7545 (245), Bata (Pak) with price per share of 3700 (100) and Millat Tractors price per share of 601 (26.25).
The top three losers were Wyeth Pak Ltd with price per share of 1995 (-105), Colgate Palmo with price per share of 1500 (-50) and Pak Tobacco per share of 1010.10 (-30.90).
Last week, the stock market surged by about 5 percent and touched all-time high to close at 38,776 levels on the back of MSCI announcement, upgraded Pakistan from Frontier Market (FM) to Emerging Market (EM) status. The market for the week is up 5.0 percent (1,836 points), highest weekly gain since first week of July 2013. Average daily volume increased 21 percent to 183.4 million shares, coupled with 57 percent rise in average daily value to Rs13.0 billion.
Banking sector was the best performer in the outgoing week as it rose 12.3 percent, followed by Cement sector which increased 6.2 percent. Engineering was among the underperformers as it fell 1.3 percent during the week.
Foreigners were net buyers of $19.6 million worth of shares this week. Net buying of $17.4 million was seen in Banking sector whereas net selling of $6.6 million was seen Oil & Gas Exploration sector.
