Profit-Taking Sees PSX Lose Over 600 Points

The 100-Index of the Pakistan Stock Exchange (PSX) lost 620.23 more points on Thursday to close at 85,585.43 points against 86,205.66 points on the last trading day.  A total of 513,288,944 shares were traded during the day as compared to 474,333,405 shares the previous trading day, whereas the price of shares stood at Rs. 21.612 billion against Rs. 26.942 billion on the last trading day.   As many as 450 companies transacted their shares in the stock market, 173 of them recorded gains and 208 sustained losses, whereas the share price of 69 companies remained unchanged.   In a brief note, brokerage house Topline Securities said profit taking was observed today, largely led by banking and E&P sector as they lost value to weigh down on the index by -348 points.   PRL was today`s volume leader with around 58 million shares which the brokerage house attributed to news that Chinese investment corporation has agreed to provide $1 billion to the company for its upgradation project.  The three top trading companies were Pak Refinery with 57,826,783 shares at Rs. 26.45 per share, Fauji Foods Limited with 57,329,465 shares at Rs. 9.34 per share and The Searle Company with 30,393,539 shares at Rs. 63.25 per share.   Hallmark Company Limited witnessed a maximum increase of Rs. 79.66 per share price, closing at Rs. 876.21, whereas the runner-up was Rafhan Maize Products Company Limited with Rs. 73.02 rise in its per share price to Rs. 7,332.73.   Nestle Pakistan Limited witnessed a maximum decrease of Rs. 100.00 per share closing at Rs. 6,800.00 followed by Ismail Industries Limited with Rs. 86.63 decline to close at Rs. 1,710.95.