KARACHI: Opened with negative note, the Pakistan Stock Exchange recouped the early losses till midday and further gained 587.27 points to reach 48827.55 points level at closing on Tuesday.
The stocks recorded the highest trading level of 48924.08 points and lowest level of 47906.38 points, with the volume of over 501 million shares and value of Rs 27.17 billion. As many as 410 companies were active; of which 197 advanced, 190 declined and 23 remained unchanged.
Dost Steels Ltd was the volume leader with 61.76 million shares, gaining Rs 0.17 to finish at Rs 13.29. It was followed by K-Electric with 28.86 million shares, remaining unchanged to end at Rs 9.52 and Engro Polymer with 21.25 million shares, gaining Rs 0.53 to close at Rs 18.99.
The top three gainers were Unilever Foods with price per share of 6000 (150), Rafhan Maize with price per share of 8590 (90.01) and Khyber Tobacco share of 1100 (40).
The top three losers were Sanofi-Aventis with price per share of 2888.68 (-71.03), Colgate Palmolive with price per share of 1750 (-50) and Pak Services per share of 839.33 (-44.17).
Earlier, the Pakistan Stocks Exchange started day with negative note and shed 42.91 points to drop to 48197.37 points level in early trading. The PSX rebounded till midday with massive 334.02 points to reach 48574.30 points level.
On Monday, the stocks touched another height of 48,240 level by rallying 433 points or (0.91%), amid institutional interest in fertilisers, banking and oil scrips on investor speculations ahead of earning season.
Banking sector led the gains in the market despite decline in MoM CPI number, as it clocked in at 3.7 percent for the month of December 2016. HBL (rose 3.09%) and MCB (1.86%) were major index movers of the aforementioned sector. Cement sector garnered investor interest on the back of investor anticipation of increased dispatch numbers for the month of December 2016, due to be released by APCMA later this week.
BWCL (up 5%) and FCCL (1.82%) were major performers of the aforementioned sector. Investors’ interest was seen in fertiliser sector, as the sector gained to close (2.1%) higher than its previous trading session. ENGRO (higher 2.79%) and FFC (3.04%) were major performers of the aforementioned sector. KEL (up 1.60) was volume leader with more than 43 million shares traded. Overall, volumes decreased by 2.8 percent to 376 million shares, while value remained flat Rs18.8b/$180 million.
