KSE-100 Index gains 298 points, majority of companies’ share prices down

The Pakistan Stock Exchange experienced a violent session as the KSE-100 recovered from early losses and closed the day at 33,737.92 with a 298.97 points gain but most of the companies saw their share prices going down.

At one point, the index was down to 33,071.36 after starting the day from the previous level of 33,438.95, representing a loss of over 350 points. However, the market bounced back after reaching the lowest point at around 11:40am not only to recover the lost ground but also to make considerable gains.

A total of 102,134,436 shares were traded during the day with the share prices of 134 companies going up, 180 suffering losses and 19 without any change.

With a total of 11,539,000 shares traded, Unity Foods Limited remained the most active stock. It was followed by Maple Leaf Cement Factory Limited with 8,188,000 and TRG Pakistan Limited with 7,319,500 shares.

In terms of gains, Unicap Modaraba’s share price increased by 18 percent (Rs0.09), of Skarand Sugar Mills Limited 11.35 percent (Rs1) and Metropolitan Steel Corporation Limited 10.70 percent (Rs1).

But the worst performance came from SME Leasing Limited as it share price was down by 26.48 percent (Rs0.67) while that of Nazir Cotton Mills by 24.62 percent (Rs0.96) and Pak Refinery 15.08 percent (Rs0.19).

After reaching the level 35,128.58 on June 11, the KSE-100 Index has shed 1,390.66 points since then.

Earlier on March 25, the KSE-100 Index was down to 27,267.20. But it saw some recovery after the downward movement starting on Jan 10 when it was at 43,207.05.