Bears roam free in PSX on second consecutive day
After suffering huge losses in the last session, the Pakistan Stock Exchange (PSX) went through another depressing day as the KSE-100 Index closed Wednesday at 41,186.86 after shedding 194.97 points.
Earlier on Tuesday, the market was down by 468.64 points with the shrinking share prices of 252 companies.
Wednesday’s session had a total trading volume of 368,423,779 shares which represented a reduction of around 30 percent when compared with the previous day.
In this scenario, the share prices of 212 companies went down while 143 entities made some gains. There was no change in the value of 19 after a total of 374 companies traded their shares.
Unity Foods Limited proved to be the most active stock with the trading of 60,250,500 shares. It was followed by Pakistan International Bulk Terminal Limited and Hascol Petroleum Limited with 31,266,000 and 26,875,020 shares respectively.
The maximum reduction in share price, 15.70 percent, was experienced by First Equity Modaraba. Tri-Star Mutual Fund 12.24 percent and Jubilee Spinning and Weaving Mills Limited 11.11 percent were the next two companies on the list.
However, the top three advancers were First UDL Modaraba 13.59 percent, Summit Bank Limited 12.79 percent and PICIC Insurance Limited 11.59 percent.
A sector-wise look at the market shows that several automobile companies managed to recover the losses suffered a day earlier. However, the same could not be said about the cement manufacturers.
Similarly, Hascol Petroleum Limited was the only exception among the oil and gas marketing companies with a slight increase of 1.34 percent in its share price.