KARACHI: The bearish sentiments prevailed at the Pakistan Stock Exchange as the benchmark lost the psychological barrier of 47,000 after dropping 250.75 points to drop to 46874.37 points on Tuesday.
The stocks recorded the highest trading level of 47182.86 points and lowest level of 46809.19 points, with the volume of over 164.45 million shares and value of Rs9.43 billion. As many as 364 companies were active; of which 120 advanced, 229 declined and 15 remained unchanged.
Engro Polymer was the volume leader with 17 million shares, shedding Rs 0.28 to finish at Rs 25.11. It was followed by K-Electric with 15.83 million shares, adding Rs 0.12 to end at Rs 8.00 and TRG Pak Ltd with 9.15 million shares, losing Rs 1.03 to close at Rs 49.44.
The top three gainers were Sanofi-Aventis with price per share of 1911 (61), Mari Petroleum with price per share of 1499.40 (39.87) and Shell Pakistan share of 611 (29.09).
The top three losers were Nestle Pakistan with price per share of 9400 (-242.50), Sapphire Fiber with price per share of 1092.50 (-50.35) and Wyeth Pak Ltd per share of 2321.56 (-36.38).
Earlier, the stocks became bearish soon after positive opening and shed 48 points to reach 47077 points level in early trading. The bearish sentiments continued to prevail at the PSX till midday as the benchmark dropped 163 points to reach 46962 points.
On Monday, bearish spell prevailed at the PSX as index slumped 452 points or (0.95pc) and to close at 47,125 points. Maximum downside contribution emanated from HBL (slip 1.8pc), ENGRO (3.4pc), FFC (3.8pc), LUCK (1.1pc) & FCCL (3pc), eroding 215 points from the index; while NESTLE (gain 3.7pc), POL (1.4pc), HUBC (0.7pc), NRL (2.6pc) and UBL (up 0.4pc), added 75 points.
ATRL (4.9pc) declined on the back of lower than expected 3QFY17 consolidated EPS of Rs6.15, down 74pc QoQ vs Rs23.83 in 2QFY17, as the market was expecting better earnings post completion of refinery upgradation. FCCL reported 3QFY17 EPS of Rs0.5, down -57pc YoY as gross margins contracted 27ppts due to purchase of outsourced clinker post the silo fiasco. Overall, volumes increased by 23 percent to 154 million shares, while traded value rose by 14 percent at Rs8.2 billion.
