KARACHI: Opened with positive note, the Pakistan Stock Exchange closed negative after shedding 84.28 points to drop to 48605.14 points level on Wednesday.
The stocks recorded the highest trading level of 48929.54 points and lowest level of 48490.43 points, with the volume of over 260 million shares and value of Rs13.06 billion. As many as 370 companies were active; of which 132 advanced, 220 declined and 18 remained unchanged.
K-Electric was the volume leader with 32.12 million shares, remaining unchanged at Rs 8.00. It was followed by Engro Polymer with 25.40 million shares, gaining Rs 0.40 to end at Rs 28.92 and TRG Pak Ltd with 24.24 million shares, dropping Rs 2.73 to close at Rs 53.02.
The top three gainers were Colgate Palmolive with price per share of 2300 (99.67), Rafhan Maize with price per share of 7112.75 (97.75) and Sapphire Tex share of 1760 (81.81).
The top three losers were Sanofi-Aventis with price per share of 2290 (-81.78), Pak Tobacco with price per share of 1500 (-50) and Wyeth Pak Ltd share of 2312.67 (-39.83).
Earlier, the stocks opened bullish and added 132 points to take the tally to 48822 points level in early trading. The PSX kept adding points till midday as the benchmark 100-index gained 174 points to reach 48863 points level.
On Tuesday, the stocks witnessed bearish activity as index plummeted massive 611.48 points or (down 1.24pc) to close at 48,689.42 points. This pressure in the market was on the back of investor scepticism regarding the political scenario in the country.
Banking sector led the decline as the sector lost to close (0.7pc) lower than previous trading session. MCB (slip 1.90pc), UBL (1.01pc) and ABL (1.70pc) in the aforementioned sector lost value to weigh down on the index. Volumes in the market further skimmed to around 199 million shares versus 290 million shares traded previously, while value also declined to Rs10.7 billion.
