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Full-day report: KSE-100 loses 550 points amidst restrained activity

Updated May 18, 2017

The Pakistan Stock Exchange ended Thursday’s session on a negative note, with the benchmark KSE-100 index losing 554.81 points, or 1.08 per cent, by the close of the trading session to reach 50,956.60.

Volumes were led by technology and communication, commercial banking and chemical stocks as the benchmark index continued its bearish streak following the MSCI upgrade.

69 million shares changed hands by the end of the session, with a total worth of nearly Rs7.15 billion.

"Market traded with a bearish bias throughout as profit-taking in major sectors — notably financials, power, cements and oils — kept the index deep in the red," said a note issued by Elixir Securities.

"Mainboards witnessed a significant drop in volumes as evident by only 69mn shares exchanging hands on KSE100 Index, however third tier names continued to lead day's volumes on retail churning," it added.

Stocks of 405 companies were traded, of which 183 gained in value, 204 declined and 18 remained unchanged.

Volumes were led by:

  1. WorldCall Telecom: 32.5m shares traded [+5.62pc];

  2. Engro Polymer: 15.1m shares traded [+0.94pc];

  3. Silk Bank Ltd: 14.2m shares traded [+6.86pc];

  4. Lotte Chemical: 13.8m shares traded [-1.68pc]; and,

  5. Quice Food: 13.6m shares traded [+5.05pc].