KSE-100 hits 17-month low shedding 598 points

KARACHI: After the rupee devaluation, the Pakistan Stock Exchange (PSX) too started the the week on a negative note as  KSE-100 Index shed 598 points, a 17-month low.

The KSE-100 Index showed some upward momentum in the first few minutes of the session but failed to sustain the positive momentum but towards the end registered a decrease of 598.30 points or 1.53% to settle at 38,481.70.

Analysts were of the view that political uncertainty has adversely affected the benchmark index.

The three top traded companies were Worldcall Telecom with a volume of 18,539,500 and price per share of 2.98 (-0.15), TRG Pakistan Limited with a volume of 8,302,000 and price per share of 32.14 (-1.69), K-Electric Limited with a volume of 5,943,000 and price per share of 6.03 (-0.15).

The top three advancers were Nestle Pakistan Limited with a volume of 40 and price per share of 12,195 (120.00), Khyber Tobacco Company Limited with a volume of 1,100 and price per share of 1,565 (64.50), Colgate-Palmolive (Pakistan) Limited with a volume of 340 and price per share of 2,449 (49.00).

The top three decliners were Wyeth Pakistan Limited with a volume of 1,200 and price per share of 1,498.25 (-71.75), Sanofi-Aventis Pakistan Limited with a volume of 780 and price per share of 1,269.69 (-59.25), Millat Tractors Limited with a volume of 29,160 and price per share of 1,099.85 (-40.23).