KARACHI: The Pakistan Stock Exchange Tuesday crashed when it opened after three-day holidays as the benchmark 100-index shed mammoth 1389 points to drop to 43899.45 points level.
The stocks recorded the highest trading level of 45419.52 points and lowest level of 43822.20 points, with the volume of about 240.84 million shares and value of Rs12.53 billion. As many as 379 companies were active; of which 39 advanced, 326 declined and 14 remained unchanged.
BoP was the volume leader with 12.41 million shares, shedding Rs0.55 to reach Rs10.51. It was followed by K-Electric with 12.25 million shares, losing Rs0.24 to end at Rs6.66 and Azgard Nine with 9.85 million shares, dropping Re1 to close at Rs15.59.
The top three gainers were Wyeth Pak Ltd with price per share of 2298 (65.30), Fazal Cloth with price per share of 169 (6) and Dawood Law of 206.99 (3.99).
The top three losers were Nestle Pakistan with price per share of 10640 (-560), Philip Morris Pak with price per share of 2558.05 (-133.95) and Sanofi-Aventis share of 1922.33 (-101.16).
Earlier, the stocks opened bullish after long weekend and gained 113 points to reach 45419 points level in early trading. The PSX shed the early gains as the benchmark 100-index dropped 532 points to reach 44756 points level till midday.
On Friday, the stocks witnessed another dreary session on weekend as the 100-share index lost 345.53 points and closed at 45,288.49 points.
HBL (down 1.41%) from the commercial banking sector posted its 1H2017 results with an EPS of Rs11.64, down 2%YoY, and a DPS of Rs3.50. Also results for EFOODS (down 5%) for 1H2017 were announced, in which the company announced EPS of Re0.24, down 91%YoY. POL (down 1.98%), PSO (2.16%) and LUCK (1.19%) were the heaviest in dragging down the KSE 100-index, cumulatively took away 67 points.
Volumes were recorded at the week’s low at 114 million shares, compared to 175m shares of the previous day. ANL led with overall 18 million shares changing hands. Scrips of total 351 companies traded in the session of which 134 closed in advance, 199 in decline while 18 remained unchanged.