Pakistan Stock Exchange sheds 184 points despite higher volume
The Pakistan Stock Exchange experienced another poor session as the KSE-100 closed at 42,346.42 after shedding by 184.89 points on Tuesday.
Earlier on Monday, the stock market remained flat as the majority of companies saw their share prices going down after a loss of 116 points during the Friday session.
A total of 389 companies offered their shares for trading on Tuesday out of which 249 were and 123 up with no change in the value of 17.
However, the trading volume jumped by over 35 percent as 411,064,768 shares were traded. But the negative sentiments meant that five out of the top 10 most active stocks had their share prices shedding some their value.
Thus Hascol Petroleum Limited, which proved to be the most active stock on third consecutive day with 63,860,000 shares traded, had its share price cut by 1.04 percent.
The next two companies on the list were K-Electric Limited and Byco Petroleum Pakistan Limited with 54,037,500 and 42,615,000 shares respectively.
As far as the top advancers are concerned, the financial sector with five companies proved to be the biggest gainer. Two of these were leasing companies and one each from modaraba, investment banks/security companies and insurance sector.
It was SME Leasing Limited which topped the chart with a 31.29 percent gain in its share price followed by 25 percent in the case of Saudi Pak Leasing Company Limited and 16 percent for Mian Textile Industries Limited.
Meanwhile, the three worst performers were Shadman Cotton Mills Limited, PICIC Insurance Limited and Service Fabrics Limited with 12.33 percent, 11.76 percent and 11.67 percent cut respectively in their share prices.
A sector-wise look at the session shows all the oil and gas exploration companies suffered loses; however, it was mixed for the marketing companies.
Meanwhile, the likes of power generation/ distribution, technology and communication, insurance, textile, modaraba, cement and automobile sectors had also a poor session.