KARACHI: The Pakistan Stock Exchange (PSX) Wednesday witnessed fluctuation in trading but remained green as the benchmark 100-index gained 209.94 points to reach 41259.16 level.
The stocks recorded the highest trading level of 41293.80 points and lowest level of 40970.62 points, with the volume of 97.37 million shares and value of Rs5.65 billion. As many as 365 companies were active; of which 189 advanced, 142 declined and 34 remained unchanged.
Sui South Gas was the volume leader with 8.78 million shares, adding Rs1.12 to reach Rs36.25. It was followed by Japan Power with 7.60 million shares, gaining Rs0.22 to end at Rs1.50 and K-Electric with 5.90 million shares, increasing Rs0.19 to close at Rs5.53.
The top three gainers were Colgate Palmolive with price per share of 2310 (110), Sanofi-Aventis with price per share of 1616.70 (40.03) and Indus Motor Co of 1777.23 (31.07).
The top three losers were Khyber Tobacco with price per share of 1415.49 (-58.46), Wyeth Pak Ltd with price per share of 1598.50 (-41.50) and Blessed Tex share of 264.63 (-13.92).
The stocks witnessed fluctuation in early trading and added only 13 points to reach 41062 points. Despite variation, the PSX continued upward rally and gained 145 points to take the tally to 41194 points level till midday.
On Tuesday, the stocks observed a volatile session throughout the day as the KSE 100-share index, after making an intra-day high of 232 points and intra-day low of 28 points, closed at 41,049 points, 18 points positive.
This volatility in the market was likely on the back of investor scepticism regarding ongoing political scenario in the country.
On a scrip-wise basis, market momentum was led by HBL with 29 points, NESTLE with 27 points, MTL with 26 points, PPL with 16 points and MARI contributed 15 points to the index respectively. On the other side, stocks that remained in red include MCB that shed 38 points, KTML that eroded 15 points, SNGP that detracted 15 points, HUBC that took away 14 points, and UBL that shed 11 points respectively from the index.
Sector-wise; E&P’s added 56 points amid rising crude prices, food added 30 points with around $1.0m worth of NESTLE exchanging hands, auto assemblers added 28 points with PSMC (up 5%) & MTL (up 2.8%) gaining on the back of buoyant sales expectations; power eroded 24 points weighed down by HUBC, and KEL (Rs5.35, -2.2%) which slipped to a 4-year low.
