KARACHI: The Pakistan Stock Exchange shed another 272.12 points to drop to 39499.08 points level as profit-taking continued on Friday, the last trading day of the week.
The stocks recorded the highest trading level of 39839.19 points and lowest level of 39465.20 points, with the volume of over 218.63 million shares, having about Rs 11.65 billion value. As many as 354 companies were active; of which 126 advanced, 202 declined and 26 remained unchanged.
Power generation & distribution was the top traded sector with 59,518,900 volume, while cement remained second with 23,014,550 volume.
K-Electric Ltd was the volume leader with 53.24 million shares, gaining Rs 0.05 to finish at Rs 8.72. It was followed by TRG Pak Ltd with 14.46 million shares, losing Rs 0.66 to end at Rs 35.79 and Pak Elektron with 11.64 million shares, shedding Rs 0.29 to close at Rs 73.83.
The top three gainers were Philip Morris Pak with price per share of 1426.80 (67.80), Sanofi-Aventis with price per share of 682.84 (32.51) and Siemens Pak per share of 890 (24.50).
The top three losers were Murree Brewery with price per share of 821.40 (-29.15), Colgate Palmo with price per share of 1540 (-28) and Ferozsons (Lab) per share of 1020.29 (-18.91).
Earlier, the stocks witnessed sharp decline in early trading and dropped 281.23 points to reach 39489.97 points level. The PSX remained bearish till midday and shed 161.01 points to drop to 39610.19 points level.
On Thursday, the bears staged comeback at the equity market as KSE 100 index shed 286.82 points or 0.71 percent to close below 40,000 mark at 39771.20 points following profit taking led by institutional investors. The market opened on positive note. Foreign and local buying in energy, cement, fertilizer and gas sectors stocks led the index to hit intraday high of 40213.89 points. However, benchmark KSE 100 index failed to uphold gains and fell below psychological 40,000 barrier.
Volumes were slightly up to 239.05 million shares against 39.01 million shares traded on Wednesday. However, value of shares traded at the Pakistan stock market declined to Rs 13.7 billion against Rs 15.3 billion worth of shares traded on previous day. TRG Pak topped the volume leaders’ list with 30 million shares followed by K-electric (20 million), Pace (Pak) (12 million), Nishat (Chun.) (7 million) and Dewan Cement (6 million).
