ISLAMABAD: Pakistan Stock Exchange has been experiencing significant pressure for the last couple of days as the 100-index has witnessed continuous loss during the previous 3 to four trading days; the index lost more than 1000 points.
In a brief session on Friday, the index continued with the same downward trend while losing 434.05 points with a negative change of 1.08 percent and closed at 39,942.05 points compared to 40,376.10 points on Thursday.
On the second consecutive Bearish day (Friday), 46,728,175 shares were transacted compared to 148,452,001 shares the previous day, while the price of shares stood at Rs. 1.294 billion against Rs. 3.917 billion on the last day of trading.
Bearish Trend Prevails at Pakistan Stock Exchange
As many as 308 companies traded their shares in the stock market; 89 of them recorded gains and 200 sustained losses, whereas the share price of 19 companies remained unchanged.
The three top-trading companies were WorldCall Telecom, with 4,011,170 shares at Rs.1.20 per share, Telecard Limited, with 3,877,000 shares at Rs.7.06 per share and TLP Properties, with 1,839,174 shares at Rs.14.70 per share. Shares of the companies having strong market grip and strength witnessed less activity.
However, some of the leading companies experienced some strength as Nestle Pakistan witnessed a maximum increase of Rs.99.95 per share price, closing at Rs.5100.10, while Sapphire Fiber stood as the runner-up with a rise of Rs.71.60 in its per share price to Rs.1026.39.
Pak Services witnessed a maximum decline of Rs.89.00 per share, closing at Rs.1099.00, followed by Pak Tobacco, with a decrease of Rs.52.50 to close at Rs.665.10.
Economy experts term the prevailing vulnerability of the market due to the ongoing economic predicament and delay in the transfer of the next tranche from the IMF.
