KARACHI: The Pakistan Stock Exchange witnessed yet another trading session marked by selling pressure on Tuesday, with the benchmark KSE-100 Index dropping below the 40,000 points barrier after losing 707 points to reach 39,617.
KSE-100 volumes climbed to 93 million, compared to 53m a day earlier. Likewise, the value of shares traded swelled to Rs8.3 billion from Rs5.4bn the previous day. Of the 346 symbols traded, only 81 advanced, 251 declined and 14 remained unchanged.
Volumes were also higher on the broader market, with a total of 139m shares traded worth Rs9.28b. The stocks recorded the highest trading level of 40324.32 points and lowest level of 39557.12 points.
Pak Elektron was the volume leader with 13.31 million shares, shedding Rs2.18 to reach Rs58.99. It was followed by K-Electric Ltd with 10.23 million shares, losing Rs0.17 to end at Rs5.54 and TRG Pak Ltd with 10.10 million shares, dropping Rs1.69 to close at Rs32.35.
The top three gainers were Pak Tobacco with price per share of 1549.98 (72.64), Mari Petroleum with price per share of 1450 (29.96) and Exide (PAK) of 536 (23.50).
The top three losers were Khyber Tobacco with price per share of 1624.50 (-85.49), Wyeth Pak Ltd with price per share of 1680.67 (-78.55) and Service Ind. Ltd share of 888.97 (-46.78).
The stocks continued its bearish note and shed 257 points in early trading to reach 40067 points level. The PSX tried to recoup some losses but remained bearish till midday as the benchmark 100-index dropped 111 points to reach 40213 level.
On Monday, bearish trend continued at the PSX on first trading day of the week, as aggressive selling was observed throughout the day. The 100-share index lost 781 points and closed at 40,324 points likely on continued investors’ scepticism regarding the political scenario in the country.
Top 5 index point contributors were POL (up 2.1%), COLG (5%), THALL (1.2%), JLICL (2%) & MARI (0.3%), adding 48 points, while top 5 index laggards were LUCK (down 5%), UBL (3.3%), HBL (2.1%), HUBC (3.3%) & MCB (2%), withholding 273 points.
Sector wise, commercial banks took away 197 points, cements eroded 142 points and fertilizer detracted 81 points. While chemical and automobile parts cumulatively added 12 points to the index.
Average market volumes were down by 26% DoD, to 98.7m shares. On the other hand, average traded value was down by 76% DoD, at Rs6.3b/USD 59.9m.
