KARACHI: The upward rally continued at Pakistan Stock Exchange till midday as the benchmark 100-index added another 304.96 points to reach 34574.24 points level on Thursday.
The stocks recorded the highest trading level of 34580.97 points and lowest level of 34269.28 points, with the volume of 179 million shares, having over Rs10 billion value. As many as 324 companies were active; of which 190 advanced, 117 declined and 17 remained unchanged.
Banking was the top traded sector with 18,763,700 volume, while cement remained second with 18,343,800 volume.
The three top traded companies were Pak Elektron with a volume of 14,855,500 and price per share of 62.80 (2.61), Dewan Motors with a volume 10,854,000 of price per share of 14.32 (-0.14), Power Cement Ltd with a volume 10,195,500 of price per share of 11.75 (0.82).
The top three gainers were Nestle Pak XD with price per share 7190 (90), Hinopak Motor with price per share of 1100 (24.88) and Siemens Pak.price per share of 970 (22).
The top three losers were Indus Dyeing with price per share of 665 (-35), Packages Ltd. XD with price per share of 636.40 (-14.15) and Colgate Palmo per share of 1500 (-10).
Earlier, the stocks opened keeping yesterday’s bullish note and added 136.80 points to reach 34406.08 points level in early trading.
Bullish momentum continued Wednesday where the index rallied 421.54 points (up 1.25%) to close at 34,269.28 points. Positivity prevailed in the banking sector on the back of better than expected first quarter results and MoM increase in banking for the month of March; BAFL 2.51% and FABL 2.11% both rallied after they announced better than expected results. As global crude oil prices continue their positive trajectory to trade above $46.50 (Brent), the oil sector continued its bull run as all major scripts closed in the green zone. Top performers of the oil and gas sector were OGDC (closing on its upper circuit) and ATRL (2.88%). Engro 1.75% rallied after its first quarter 2016 EPS clocked in at Rs6.97/share. Volume remained flat at 257mn shares while value rose by 5% at Rs 12.5b/$120m).
