KARACHI: The Pakistan Stock Exchange Wednesday surged by 395.89 points or 1 per cent to cross the psychological barrier of 40,000 mark to reach 40084.87 points level at closing.
The stocks recorded the highest trading level of 40110.45 points and lowest level of 39688.98 points, with the volume of about 498.46 million shares and value of 17.744 billion. As many as 401 companies were active; of which 266 advanced, 113 declined and 22 remained unchanged.
Pace (Pak) Ltd was the volume leader with 54.98 million shares, adding Rs 1.00 to finish at Rs 8.28. It was followed by TRG Pak Ltd with 53.90 million shares, gaining Rs 1.92 to end at Rs 40.47 and Japan Power with 21.64 million shares, adding Rs 0.78 to close at Rs 5.55.
The top three gainers were Wyeth Pak Ltd with price per share of 1995 (95), Service Ind.Ltd with price per share of 1345.58 (49.19) and Colgate Palmo per share of 1495 (45).
The top three losers were Philip Morris Pak with price per share of 1510.10 (-79.38), Unilever Foods with price per share of 5300 (-50) and Murree Brewery per share of 1187.57 (-36.40).
Earlier, the stocks opened recouping more losses it endured during the last week as benchmark 100-index gained 132.54 points to take the tally to 39821.52 points level in early trading. The Pakistan Stock Exchange continued upward rally till midday and added another 244.71 points to reach 39933.69 points level.
On Tuesday, the staged sharp recovery and followed the trend of its regional and global peers as it rallied by 411 points (1.05%) and closed at 39,689 points. The positive sentiments at the local bourse were led by the banking and cement sectors. Investors flocked towards the cement sector (up 1.9%) as concerns on oversupply of cement abated. Top index movers of the sector yesterday were LUCK (up 1.7%) and DGKC (2.4%). Volumes increased by 31% to 330m shares, while trading value increased by 41% to Rs14b/$134m. Banking stocks helps the local bourse to surge by 421 points.
