KARACHI: The Pakistan Stock Exchange Thursday again witnessed volatility and shed massive 590.31 points to drop to 44823.11 points level at closing.
The stocks recorded the highest trading level of 45579.95 points and lowest level of 44560.21 points, with the volume of about 146.62 million shares and value of Rs8.39 billion. As many as 351 companies were active; of which 72 advanced, 264 declined and 15 remained unchanged.
TRG Pak Ltd was the volume leader with 17.96 million shares, shedding Rs1.79 to reach Rs34.35. It was followed by Aisha Steel Mill with 7.89 million shares, gaining sRs0.16 to end at Rs18.87 and Engro Polymer with 6.49 million shares, dropping Rs1.10 to close at Rs33.44.
The top three gainers were Nestle Pakistan with price per share of 10400 (200), Abbott Lab with price per share of 912 (28.95) and Wyeth Pak Ltd of 2129.99 (21.99).
The top three losers were Rafhan Maize with price per share of 6800 (-200), Service Ind.Ltd with price per share of 1295 (-37.67) and National Refinery share of 629.22 (-32.56).
Earlier, the stocks opened on positive note and gained 80 points to reach 45493 points level in early trading. The Pakistan Stock Exchange dropped the early gains and shed 239 points to drop to 45174 points level till midday.
On Wednesday, stock market continued to show volatility as the benchmark KSE-100 index fluctuated between low 241 points and high 964 points to close at 45,413.42 level, up 19.13 points.
Investors were busy repositioning their portfolios evident by the sector specific movements; losers were Engineering (-4.3pc), Refinery (-3.9pc), Cable & Electrical (-3.8pc), Auto Assembler (-3.3pc), Cement (-1.6pc), Pharma (-1.4pc); as they likely believe rupee depreciation may spike raw material costs (finished imports would also become costlier & those with pricing power would pass thru).
Participation further improved as volumes gained 7 percent to 204 million shares, while traded value climbed 29 percent to Rs12.5 billion/$119.2 million.
