KARACHI: The Pakistan Stock Exchange on Thursday remained bearish and even lost 42,000 mark after shedding massive 431.55 points to drop to 41869.65 level.
The stocks recorded the highest trading level of 42301.20 points and lowest level of 41833.60 points, with the volume of 56.93 million shares and value of Rs2.61 billion. As many as 298 companies were active; of which 71 advanced, 209 declined and 18 remained unchanged.
Pakistan Elektron Ltd was the volume leader with 7 million shares, shedding Rs1.93 to reach Rs36.95. It was followed by K-Electric with 4.83 million shares, gaining Rs0.05 to end at Rs6.12 and Dewan Cement Limited with 3.90 million shares, losing Rs0.73 to close at Rs16.97.
The top three gainers were Pakistan Tobacco Co Ltd with price per share of 1913 (90.50), Bata Pakistan Ltd with price per share of 2248.99 (83.99) and Island Textile Mills Ltd of 1089 (39).
The top three losers were Murree Brewery Company Ltd with price per share of 725.25 (-24.75), Indus Motor Company Ltd with price per share of 1605.49 (-17.95) and Service Industries share of 838.01 (-16.29).
The stocks started day keeping previous day’s bearish note and lost 183 points to reach 42118 level in early trading. The bearish trend further intensified till midday at the PSX as the benchmark 100-index shed 225 points to drop to 42076 level.
Yesterday, bears continued to dominate the PSX, with the benchmark KSE-100 index losing 158 points in one of the dullest trading sessions in recent months.
The index oscillated from the day’s high of 42,580 points to a low of 42,199 before closing at 42,301 points on Wednesday. In all, only 77.5 million shares worth Rs2.9 billion were traded at the exchange, with volumes lower by around 100m. Of the 332 scrips traded, 131 advanced, 174 declined and 27 remained unchanged.
