Share prices of 224 entities shrink at Pakistan Stock Exchange
A total of 224 companies suffered losses as the Pakistan Stock Exchange had another abysmal session with the KSE-100 Index shrinking by 64.14 points and closing at 42,282.28 on Wednesday.
Meanwhile, only 128 companies saw their share prices making some gain while there was no change in the value of 18.
It means the market has had poor sessions during the last four business days after gaining over 625 points on Thursday last week.
Wednesday’s session saw the trading volume again tumbling to 300,270,901 shares against the previous day’s level of 411,064,768, showing a lack of confidence on the part of investors.
At one point, the KSE-100 Index had gained around 200 points in early trading but the trend could not be sustained later in the session.
That’s why the top two companies among the 10 most active stocks had their share prices slashed. Hence, K-Electric Limited had its 70,582,000 shares traded but the share price was slashed by 1.21 percent.
Next on the list was Hascol Petroleum Limited shed 1.54 percent of its share price on a day when 37,389,500 shares [the total was 63,860,000 on Tuesday] of the company changed hands. It was the most active stock during the last three sessions.
On the other hand, the modarabas occupied the first three spots in the list of top 10 advancers: Modaraba Al-Mali 33.33 percent, First Prudential Modaraba 16.79 percent and First Punjab Modaraba 14.35 percent.
As far as the biggest losers are concerned, the share price of First National Modaraba was down by 14.81 percent.