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Stocks regain early losses till midday with 86pts surge

byMatiur Rehman
10/05/2016
in Markets, Stock Exchange
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KARACHI: Opened with bearish note, the Pakistan Stock Exchange regained 85.67 points to reach 36320.66 points level.

The stocks recorded the highest trading level of 36333.37 points and lowest level of 36037.80 points, with the volume of 165.22 million shares, having about Rs7 billion value. As many as 300 companies were active; of which 171 advanced, 110 declined and 19 remained unchanged.

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Technology & communication was the top traded sector with 38,019,500 volume, while oil & gas marketing companies remained second with 34,386,000 volume.

The three top traded companies were Dewan Cement with a volume of 37,979,500 and price per share of 16.08 (0.60), Dewan Motors with a volume 19,387,500 of price per share of 16.60 (0.05), Sui North Gas with a volume 8,894,000 of price per share of 36.50 (0.46).

The top three gainers were Sapphire Fiber with price per share 588 (26.75), Sanofi-AventisXD with price per share of 526.05 (25.05) and Shifa Int.Hosp price per share of 292.91 (13.94).

The top three losers were Nestle Pak XD with price per share of 7060 (-140), Service Ind.LtdXD with price per share of 765 (-11.48) and Tandlianwala Sugar per share of 203.66 (-10.72).

Earlier, the Pakistan Stock Exchange opened bearish as the benchmark 100-Index shed 87.51 points to reach 36147.48 points level in early trading.

On Monday, the PSX closed at its all-time high of 36,235 points, up 260 points from the last day. The market rose 0.72 per cent with the KSE-100 Index hovering at an intraday high of 36,300.52 points, 171 points below its all-time intraday high of 36,471 points on August 6, 2015.

The KSE-100 Index, which measures the performance of the hundred most liquid stocks, recorded an increase of 3.6 per cent in the last week. The highest average volume was clocked in at 16.6 million shares by The Resource Group (TRG) for the last 21 days, followed by 13.3 million shares of the SNGPL and 9.7 million shares of the BYCO. The overall trend of 2015 was slow but a surge has been observed in the last four months.

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