KARACHI: The Pakistan Stock Exchange Monday remained bearish whole the day and lost huge 350.31 points to drop to 37039.57 points level at closing.
The stocks recorded the highest trading level of 37503.96 points and lowest level of 36957.05 points, with the volume of 189.24 million shares, having about Rs 9.41 billion value. As many as 310 companies were active; of which 115 advanced, 174 declined and 21 remained unchanged.
Power generation & distribution was the top traded sector with 58,610,200 volume, while technology & communication remained second with 24,271,000 volume
K-Electric was the volume leader with 55.18 million shares, losing Rs 0.24 to finish at Rs 8. It was followed by WorldCall Telecom with 9.8 million shares, losing Rs -0.05 to close at Rs 1.91 and Nishat Mills Ltd with 7.5 million shares, losing Rs -5.27 to close at Rs 105.09.
The top three gainers were Bata (Pak) with price per share 3750 (100), Nestle Pak XD with price per share of 7375 (25) and Service Ind. Ltd price per share of 838.95 (14.12).
The top three losers were Rafhan Maize with price per share of 7761.50 (-408.50), Unilever Foods with price per share of 5200 (-139) and Pak Tobacco per share of 1091.46 (-57.44).
Last week, the stock market remained in the correction mode as MSCI euphoria fizzled out over Brexit. Over the week, foreigners were net sellers of $20.5m worth of shares. Selling was seen in Chemicals and Cement sector of $6.8m and $5.5m, respectively, whereas net buying of $1.3m witnessed in Banking sector. The global markets crashed on Friday as Britain’s unprecedented vote to leave the European Union rocked world financial markets. As a result Pakistan market also fell 848 points (2.2 percent). Benchmark KSE 100 Index closed at 37,389 level which recovered partially after falling to an intraday low of 36,825 level.
