Stocks ended lower yesterday after a highly volatile trading session.
The Karachi Stock Exchange’s (KSE) benchmark 100-share index ended the day’s trading with a decrease of 0.66% or 228.90 points at 34,203.99.
Financial institutions traded directionless barring United Bank Limited (+0.35%) and Habib Bank (-1.34%) which closed lower on reported foreign selling.
The data released for auto sales later in the day reflected a phenomenal month-on-month growth, pushing up Pak Suzuki Motor Company (+2.41), Indus Motor (+1.51%) and Honda Car (+4.64%). They notched growth of 28%, 57% and 367% respectively.
Trade volumes slightly declined to 258 million shares compared to 265 million on Tuesday.
Shares of 375 companies were traded. Of these, 213 declined, 140 closed higher and 22 remained unchanged. The value of shares traded during the day was Rs16 billion.
Also Read: KSE Market Watch: Return of the bears
Jahangir Siddiqui and Company was the volume leader with 25 million shares, gaining Rs1.01 to close at Rs22.60. It was followed by Pak Elektron with 24.7 million shares, losing Rs0.06 to close at Rs58.13 and K-Electric Limited with 17.9 million shares, gaining Rs0.12 to close at Rs8.44.
Foreign institutional investors were net sellers of Rs573 million worth of shares during the trading session, according to data compiled by the National Clearing Company of Pakistan Limited.
