KARACHI: The upward rally continued at Pakistan Stock Exchange till midday as the benchmark 100-index added another 268.70 points to reach 34116.44 points level on Wednesday.
The stocks recorded the highest trading level of 34127.41 points and lowest level of 33847.74 points, with the volume of 136 million shares, having about Rs5.7 billion value. As many as 304 companies were active; of which 208 advanced, 14 declined and 14 remained unchanged.
Technology & communication was the top traded sector with 41,319,000 volume, while oil & gas marketing companies remained second with 32,268,100 volume.
The three top traded companies were Sui North Gas with a volume of 15,835,000 and price per share of 33.50 (0.22), Sui South Gas with a volume 9,218,000 of price per share of 28.94 (1.37), Descon Chemical with a volume 7,722,000 of price per share of 8.67 (0.68).
The top three gainers were Hinopak Motor with price per share 1070 (46.07), Exide (PAK) with price per share of 792.19 (37.72) and Sapphire Tex price per share of 766 (36).
The top three losers were Nestle Pak XD with price per share of 7007.07 (-192.95), Cherat Pack with price per share of 315 (-8.19) and Gatron Ind per share of 110.55 (-5.80).
Earlier, the Pakistan Stock Exchange opened bullish, adding 156.25 points to cross the psychological barrier of 34,000 mark to reach 34,003.99 points level in early trading.
On Tuesday, the Pakistan Stock Exchange benchmark 100-share index gained 163.18 points to close at 33,847.74 points. Bull-run was witnessed in the banking sector with UBL rising 0.83 per cent and ABL 2.16 per cent after declaring their financial results for the 1Q2016, which were both better than market’s expectations, dealers said. Volume increased by 50 per cent to 258m shares while value increased by 86 per cent to Rs 11.9 billion. NML announced result of EPS Rs7.2 which was above expectations. Stock closed up by 2 per cent. Earnings of Rs1.2/share were announced by PAEL which led the stock to decline by 1.1 per cent. FFC & OGDC announced disappointing results which led their stocks to decline by 1.8 per cent & 1 per cent respectively.
