KARACHI: Opened on positive note, the Pakistan Stock Exchange closed negative after shedding 147.78 points to reach 48375.63 points level on Wednesday.
The stocks recorded the highest trading level of 48909.10 points and lowest level of 48336.78 points, with the volume of over 272.27 million shares and value of Rs13.8 billion. As many as 380 companies were active; of which 160 advanced, 196 declined and 24 remained unchanged.
Azgard Nine was the volume leader with 27.86 million shares, shedding Rs 0.53 to finish at Rs 12.21. It was followed by BoP with 23.44 million shares, losing Rs 0.65 to end at Rs 16.05 and Power Cement Ltd with 16.50 million shares, gaining Rs 0.69 to close at Rs 20.32.
The top three gainers were Philip Morris Pak with price per share of 2597.49 (123.69), Nestle Pakistan with price per share of 9100 (90) and Mari Petroleum share of 1379.12 (65.67).
The top three losers were Rafhan Maize with price per share of 7400 (-250), Wyeth Pak Ltd with price per share of 2678.18 (-111.68) and Sanofi-Aventis per share of 2136.01 (-33.99).
Earlier, the stocks made a huge recovery of 385 points in early trading to reach 48908 points level. Despite shedding some early gains, the PSX remained in green zone as the benchmark 100-index Wednesday gained 117 points to reach 48641 points level till midday.
On Tuesday, the stocks closed in red on second consecutive day on the back of forthcoming panama case result coming week. The shares index traded between an intraday high of 5 points and intraday low of 190 points, finally closing at 48,523 level, down 157 point, or (0.32%).
Downside contribution of 99 points came from LUCK (slip 1%), SEARL (2.6%), PPL (1.4%), HBL (0.5%) & OGDC (0.9%), market participants said. PPL (decline 1.36%), POL (1.33%) and OGDC (0.85%) in the E&P sector remained in the red as oil prices struggled near low levels on rising US shale production. Volumes declined 8 percent d/d to 218 million shares, while traded value shed 2 percent to Rs10.2 billion.
