KARACHI: The Pakistan Stock Exchange Tuesday recouped most of the early losses but remained bearish at closing after shedding 87.27 points to drop to 40764.76 points level over present political turmoil in the country.
The stocks recorded the highest trading level of 40852.03 points and lowest level of 40176.81 points, with the volume of about 368 million shares and value of 11.58 billion. As many as 385 companies were active; of which 111 advanced, 259 declined and 15 remained unchanged.
BoP was the volume leader with 50.25 million shares, gaining Rs 0.39 to finish at Rs 17.64. It was followed by K-Electric with 27.46 million shares, adding Rs 0.07 to end at Rs 9.19 and Dost Steel (R) with 22.84 million shares, gaining Rs 0.07 to close at Rs 3.53.
The top three gainers were Sanofi-Aventis with price per share of 1435.45 (68.35), Sapphire Tex with price per share of 1230.24 (58.58) and Philip Morris Pak share of 1991.59 (54.76).
The top three losers were Bata (Pak) with price per share of 4179.47 (-120.53), Pak Tobacco with price per share of 1125.63 (-49.37) and Atlas Battery per share of 822.84 (-34.16).
Earlier, the stocks opened bearish as the benchmark 100-index shed massive 506.92 points in early trading to drop to 40345.11 points level. The Pakistan Stock Exchange lost 155.33 points till midday to reach 40696.70 points level.
On Monday, the PSX plunged by 439 points (1.06%) and closed at 40,852 points. On sector basis, the highest decline was seen in the banking sector, which contributed 89 points to the decline in the index. Upbeat result by Pakistan State Oil (PSO) failed to excite investors as the stock witnessed 0.6% decline to close at Rs413/share, whereas, below expectations result of Pak Electron led the stock to close at its lower limit.
High Tech Lubricants (HTL) rose to its upper limit during yesterday’s trading session, to close at 2.8% following news that it has been granted an Oil Marketing Company (OMC) license, said dealers at Topline brokerage. Bank of Punjab (BOP) emerged as volume leader with turnover of 35.2m shares. However, the stock fell 5.3%. Overall, volumes fell by 48% to 278m shares, while value declined by 42% to Rs9.5b/$90.7m.
