KSE-100 Index down 226 points, share prices of 226 companies slashed
The KSE-100 Index shed 226.40 points and closed at 37,578.21 as the share prices of 226 companies out of 375 were down during trading on Thursday at Pakistan Stock Exchange.
With a total of 246,104,145 shares traded, the share prices of only 126 companies went up and the remaining 25 were unchanged.
These latest losses came the stock market is witnessing a recovery this month since July 1 when the trend changed and the index started moving upwards continuously for the first time in the current year, making it the longest streak of gains during this period.
As of Thursday, the KSE-100 Index is up by 3,156.29 points since July 1 after closing the last month at 34,421.92.
Having even a cursory look at the biggest losers on Thursday shows that five out of the 10 worst performers were from the financial sector.
It was Grays Leasing Limited with suffered biggest losses to the tune of 22.96 in its share price followed by First Credit and Investment Bank Limited 11.75 percent and First Elite Capital Modaraba 11.74 percent.
However, the two biggest gainers – SME Leasing Limited and First IBL Modaraba – were also from the financial sector with an increase of 24 percent and 17.92 percent respectively in their share prices. The third on the list was Shadman Cotton Mills Limited which saw its share price increased by 15.78 percent.
On the other hand, Unity Foods Limited was the most active stock with 38,126,500 shares traded followed by Azgard Nine Limited 31,223,500 and Fauji Foods Limited 23,450,500 shares.