Pakistan Stock Exchange faces more losses

By: News Desk      Published: 05:27 PM, 25 Sep, 2020
Pakistan Stock Exchange faces more losses

The KSE-100 Index closed the Friday session at 41,701.23 after going down by 105.14 points, as the Pakistan Stock Exchange continued nullifying the gains made in the first half of this month.

It means the gains earlier in September have now been reduced to 590.30 points after the index reached the level of 42,647.35 on September 10. The market closed the previous month at 41,110.93 on August 31.

A total of 313,280,349 shares were traded on Friday with 360 companies available for business. The share prices of 196 companies were down and of 146 made some gains. However, no change was witnessed in the value of 18.

Given the negative sentiments resulting in selloff, the share prices of six companies out of the top 10 most active stocks were reduced. 

Hascol Petroleum Limited was again the most active stock with 57,509,000 shares traded. It was followed by Unity Foods Limited and Byco Petroleum Pakistan Limited with 47,495,000 and 28,427,000 shares respectively.

Meanwhile, First Prudential Modaraba proved to be the worst performer as its share price was down by 12.06 percent. The next two on the list were First Pak Modaraba 11.57 percent and Samba Bank Limited 9.46 percent.

With a 20.19 percent increase in share price, Kohinoor Power Company Limited was the top advancer in the market. Similarly, Grays Leasing Limited saw its value going up by 13.41 percent while the surge in the case of Metropolitan Steel Corporation Limited was 10.44 percent.

On the other hand, a cursory look at sector-wise performance shows that there is seemingly no end to the slide witnessed by the automobile sector as only two companies – Atlas Honda and Sazgar Engineering – had their share prices going up.