KARACHI: The Pakistan Stock Exchange Wednesday also lost 51,000 mark after dropping massive 861.59 points to close at 50591.57 points level.
The stocks recorded the highest trading level of 51492.44 points and lowest level of 50213.66 points, with the volume of about 411 million shares and value of Rs53.33 billion. As many as 378 companies were active; of which 113 advanced, 241 declined and 24 remained unchanged.
Oil & Gas Dev was the volume leader with 26.98 million shares, shedding Rs8.05 to reach Rs176.83. It was followed by Engro Corp with 23.41 million shares, losing Rs17.51 to end at Rs372.08 and K-Electric with 21.46 million shares, dropping Rs 0.38 to close at Rs7.32.
The top three gainers were Millat Tractors with price per share of 1527.23 (50.09), Unilever Foods with price per share of 6150 (40) and National Refinery share of 833.40 (26.34).
The top three losers were Wyeth Pak Ltd with price per share of 2308.84 (-79.67), Lucky Cement with price per share of 859.22 (-42.38) and Mari Petroleum share of 1690.23 (-42.28).
Earlier, the stocks again opened bearish and shed 483 points to drop to 50970 points level in early trading. The bearish trend further intensified at the PSX till midday as the benchmark 100-index dropped huge 878 points to reach 50577 points level.
On Tuesday, the PSX benchmark shares index slid further, declining by 686 points as investors queued up sell orders at the faintest sign of strength. Volatility ramped up to 1.96 percent with the index clocking in a high of 52,476 points early in the session and subsequently slumping to a low of 51,453 points towards the end. Total 382 active companies participated in the session of which 79 concluded in positive, 294 in negative while 9 remained unchanged.
Concerns for higher tax levies on steel and cement sectors and weak MSCI EM status led foreign flows played a catalyst role in major fall at PSX, market participants said. Participation ticked up as volumes increased 16 percent d/d to 234 million shares, while traded value rose 26 percent to Rs16.3 billion.
