KSE-100 Index sheds around 200 points
The KSE-100 Index was down by 198.92 points on Wednesday just a day after an enormous 1,368.70 points gain, as the majority of the companies shed their share prices.
After shedding over 2,700 points in the previous four sessions, the Pakistan Stock Exchange had bounced back with a bang, retrieving a huge chunk of losses in a single session on Tuesday. When trading was closed for Wednesday, the KSE-100 Index stood at 40,281.96.
Earlier on October 26, the KSE-100 had reached 41,850.47 but later tumbled to 39,112.18 during the next four business days, wiping out nearly all the gains made since Oct 5 when it had closed at 39,072.47.
Overall trading volume on Wednesday was 427,848,775 shares. The value of 209 companies shrank while there was an increase in the case of 143. However, no change was witnessed in the share prices of 13 entities.
It was Unity Foods Limited which yet again proved to be the most active stock with the trading of 47,732,500 shares. It was followed by Fauji Foods Limited and Hascol Petroleum Limited with 34,787,000 and 30,335,063 shares respectively.
Although, Hascol always remains among the most active stocks, its share price has reduced by 54.73 percent in the last one year and by 44.98 since January 1.
However, Unity Foods – another company seen on the top 10 list – saw it value surging by 123.29 percent and 44.01 percent respectively in the same periods.
As far as the main advancers are concerned, the biggest surge in share price – 22.22 percent – was experienced by PICIC Insurance Limited. The next on the list were Premier Insurance Limited 17.74 percent and Trust Modaraba 15.04 percent.
However, Tri-Star Mutual Fund Limited shed 15.35 percent of its share price while the loss suffered by Ravi Textile Mills Limited was 13.80 percent. The cut in share price stood at 11.57 percent in the case Drekkar Kingsway Limited.