KARACHI: The Pakistan Stock Exchange Wednesday dropped all the early gains and closed almost flat as the benchmark 100-index gained 15.57 points to reach 49874.96 points level.
The stocks recorded the highest trading level of 50034.94 points and lowest level of 49742.74 points, with the volume of over 498.18 million shares and value of Rs 20.78 billion. As many as 403 companies were active; of which 222 advanced, 168 declined and 13 remained unchanged.
Lotte Chemical was the volume leader with 39.19 million shares, shedding Rs 0.41 to finish at Rs 10.69. It was followed by Dost Steels Ltd with 37.34 million shares, adding Rs 1.00 to end at Rs 15.63 and Power Cement with 36.54 million shares, gaining Rs 0.68 to close at Rs 17.25.
The top three gainers were Sanofi-Aventis with price per share of 2900.74 (122.59), Rafhan Maize with price per share of 7619 (109) and Nestle Pakistan share of 9099.99 (99.99).
The top three losers were Wyeth Pak Ltd with price per share of 4359.70 (-211.30), Pak Tobacco with price per share of 1160 (-40) and Indus Dyeing per share of 541.51 (-28.49).
Earlier, the stocks crossed the psychological barrier of 50,000 mark after adding 155 points in early trading and reached 50014 points level. The PSX shed the early gains but remained in green zone till midday as the benchmark 100-index added 38.55 points to reach 49897.94 points level.
On Tuesday, the stocks continued its upward journey on second consecutive day as the PSX shares index extended the gain by acquiring 229 points or (0.46%) to close at 49,859.39 points. Banking sector led the gain in the market as the sector gained to close 1 percent higher than its previous day close. UBL led the index by contributing 88 points to the gain while the stock gained 4 percent.
LOTCHEM was the volume leader with more than 50 million shares traded. Profit-taking was witnessed in ISL (down 2.08%), as the steel company lost value to close in the red zone after closing on its upper circuit for last four trading sessions. Overall, volumes increased by 41 percent to 397 million shares, while traded value rose by 31 percent to Rs17.2 billion.
