Cautious Pakistan Stock Exchange remains flat
The KSE-100 Index remained flat as the majority of companies at the Pakistan Stock Exchange suffered losses on Monday after a loss of 116 points in the last session.
When the trading was closed for the day, the KSE-100 Index was at 42,531.31 against the previous level of 42,530.67, hence making it the second consecutive poor session for the market.
A total of 289,623,250 shares were traded during the day, which represents a downward trend when it comes to volume. It was recorded at 309,496,334 shares on Friday.
There has been a reduction in trading volume in the last few sessions which represents caution on the part of investors.
Out of a total of 384 companies available for trading, the share prices of 209 were down and of 161 up with no change in the value of 14.
It was poor session for the likes of automobile, cement, chemical and textile sectors. However, the power generation companies and refineries as well as the oil and gas sector and some players in banking sector had a relatively better performance.
The biggest cut in share price was experienced by Pakistan PVC Limited which shed its value by 13.74 percent followed by BF Modaraba 13.33 percent and Bilal Fibres Limited 12.63 percent.
However, the top three advancers in terms of share price were HBL Investment Bank 11.42 percent, Khurshid Spinning Mills Limited 11.16 percent and Saudi Pak Leasing Company Limited 10 percent.
Meanwhile, Hascol Petroleum Limited was gain the most active stock with the trading of 67,076,500 shares. It was followed by Pakistan International Bulk Terminal Limited and Fauji Foods Limited with 42,942,500 and 29,875,500 shares respectively.