KARACHI: Opened with negative note, the Pakistan Stock Exchange rebounded at closing as the benchmark 100-index crossed the psychological barrier of 47,000 and reached 47210.06 points level after gaining 271.47 points on Tuesday.
The stocks recorded the highest trading level of 47070.56 points and lowest level of 46584.53 points, with the volume of over 450.31 million shares and value of Rs 21.70 billion. As many as 417 companies were active; of which 165 advanced, 237 declined and 15 remained unchanged.
Dost Steels Ltd was the volume leader with 58.42 million shares, adding Rs 0.91 to finish at Rs 11.56. It was followed by BoP with 27 million shares, shedding Rs 0.20 to end at Rs 18.08 and Engro Polymer with 23.82 million shares, gaining Rs 0.78 to close at Rs 17.42.
The top three gainers were Rafhan Maize with price per share of 8197.50 (196.50), Wyeth Pak Ltd with price per share of 4790.25 (136.94) and Sanofi-Aventis share of 2534.50 (113.89).
The top three losers were Nestle Pakistan with price per share of 8610 (-90), Bata (Pak) with price per share of 4630 (-70) and Service Ind. Ltd per share of 1455.51 (-34.33).
Earlier, the stock market opened negative after a long bullish spree and shed 78.84 points to drop to 46859.75 points level in early trading. The PSX recouped the early losses till midday and reached 47124.22 points level.
On Monday, the PSX secured new record as the 100-share index gained 354 points to close at new all-time high of 46,939 points. Overall, volumes decreased by 0.6% to 344m shares, while value remained flat at Rs19.5b/$185m.
BOP was volume leader with 30m shares traded, where it gained to close up 4.76. Global oil prices rose which led the local oil stocks like POL and PPL to gain between 1.9%-3%. Last week’s news of Pak Suzuki Motor saying that the company was ready to invest $460 million in Pakistan to set up a second plant led the stock price to gain by 5%.
