KARACHI: Opened with positive note, the Pakistan Stock Exchange Wednesday further shed 237.95 points to drop to 40526.81 points level at closing.
The stocks recorded the highest trading level of 40921.37 points and lowest level of 40427.13 points, with the volume of about 347 million shares and value of 13.15 billion. As many as 409 companies were active; of which 157 advanced, 235 declined and 17 remained unchanged.
K-Electric was the volume leader with 59.83 million shares, gaining Rs 0.01 to finish at Rs 9.20. It was followed by BoP with 40.94 million shares, shedding Rs 0.38 to end at Rs 17.26 and Dost Steel (R) with 27.45 million shares, losing Rs 0.08 to close at Rs 3.45.
The top three gainers were Wyeth Pak Ltd with price per share of 2834.55 (134.97), Bata (Pak) with price per share of 4300 (120.53) and Nestle Pakistan share of 8500 (101).
The top three losers were Philip Morris Pak with price per share of 1924 (-67.59), Hinopak Motor with price per share of 1365.70 (-48.74) and Pak Tobacco per share of 1090.75 (-34.88).
The upward rally continued at the Pakistan Stock Exchange as the benchmark 100-index added 129.45 points till midday on Wednesday.
After witnessing three consecutive bearish mornings, the PSX opened positive, gaining 75.73 points to reach 40840.49 points level in early trading.
On Tuesday, the stock market witnessed another volatile session amid increasing political uncertainty and attack on the Police Training Centre in Quetta.
At the start of the session, the 100-share index fell sharply, by 1.7 percent or 675 points. However, led by institutional buying, the benchmark index made recovery later to close at 40,765 points, down by 87.3 points, brokers said. Selling pressure was witnessed at market opening by sceptical investors as the index declined to make an intra-day low of 675 points. Nonetheless, investor came in to buy during the late hours, as the index recovered to close at 40,765 level. Overall, volumes rose by 32% to 368m shares, while value increased by 22% to Rs11.6b/$110.5m.
