KARACHI: Opened with positive note, the Pakistan Stock Exchange closed bearish as the benchmark 100-index shed 233.26 points to drop to 42292.67 points level at the last session on Tuesday.
The stocks recorded the highest trading level of 42641.53 points and lowest level of 42251.55 points, with the volume of over 408 million shares and value of Rs 14.08 billion. As many as 385 companies were active; of which 152 advanced, 212 declined and 21 remained unchanged.
BoP was the volume leader with 29.11 million shares, adding Rs 0.05 to finish at Rs 19.86. It was followed by PIAC with 24.75 million shares, shedding Rs 0.78 to end at Rs 10.86 and Japan Power with 18.34 million shares, gaining Rs 1.00 to close at Rs 6.69.
The top three gainers were Philip Morris Pak with price per share of 1933.74 (77.61), Exide (PAK) with price per share of 947.25 (45.10) and Indus Dyeing share of 517.65 (24.65).
The top three losers were Rafhan Maize with price per share of 7700 (-195.45), Indus Motor Co with price per share of 1571.83 (-33.30) and Wyeth Pak Ltd per share of 3665.78 (-28.50).
Earlier, the stocks opened with positive note and gained 24.88 points to reach 42550.81 points level in early trading. The PSX became bearish till midday as benchmark 100-index shed 79.65 points to drop to 42446.28 points level.
On Monday the PSX declined by 323 points due to profit-taking and closed at 42,526 points.
Market opened on a positive note and rallied to make an intra-day high of 235 points but came under selling pressure during the latter hours, as the index fell to close in the red zone.
Banks mainly led the index to decline as UBL and HBL contributed 104 points to the fall in index. Stocks declined between 2% to 2.9%. INDU (down 1.99%) in the automobile sector lost value to close in the red zone, as sales number released by PAMA indicated a YoY decline of 26% in the automobile assembler sales numbers for the month of Oct-16. Overall, volumes increased by 2.4 percent to 554m shares, while value increased by 3.5pc to Rs17.6b/$169m.
