PSX falls 365 points in selling pressure

The Pakistan Stock Exchange on Friday largely traded on a bearish trend for the third consecutive day, as the KSE-100 Index dipped 365.83 points to close at 81,292.13 from Tuesday’s previous close of 81,657.97. The index remained under heavy pressure throughout the trading session, observes Topline Securities, mainly on account of three days straight of foreign corporate selling that has lowered investor sentiment.

Altogether, 339,323,128 shares changed hands at the session compared with 423,942,319 shares traded the previous day. Total trading value also dipped to Rs 12.893 billion against Rs 17.671 billion on the last trading day.

Among 439 companies whose share changed hands, 129 companies witnessed an upsurge in the price of their stocks, while 234 saw a decline in their prices, and share prices of 76 companies remained unchanged.

Top three trading companies K-Electric Limited headed the trade list by executing Rs 186,246,637 in terms of trading 50,666,137 shares at Rs 3.67 each. WorldCall Telecom ranked second in Rs 38,890,678 through trading 32,405,823 shares at Rs 1.20 per share. Hub Power Company XD ranked third with the completion of Rs 20,002,951 through trading 16,264,755 shares priced at Rs 123.77 each.

Hallmark Company Limited recorded the highest gain as it went up by Rs 102.70 per share, closing at Rs 1,129.99. The gain of Rs 92.46 in Rafhan Maize Products Company Limited saw its share close at Rs 7,346.75. On the other hand, the largest fall was posted by Sapphire Textile Mills Limited that decreased by Rs 40.23 closing at Rs 1,217.39 while Premium Textile Mills Limited went down by Rs 29.00 to close at Rs 260.99.