KARACHI: The Pakistan Stock Exchange witnessed bullish day on Tuesday as the benchmark 100-index gained 192.54 points to take the tally to 42631.58 points level.
The stocks recorded the highest trading level of 42748.40 points and lowest level of 42439.04 points, with the volume of over 467 million shares and value of Rs 16.33 billion. As many as 406 companies were active; of which 240 advanced, 150 declined and 16 remained unchanged.
Pace (Pak) Ltd was the volume leader with 45.77 million shares, adding Rs 0.92 to finish at Rs 12.03. It was followed by Summit Bank with 37.36 million shares, shedding Rs 0.27 to end at Rs 4.85 and PIAC with 34.22 million shares, gaining Rs 0.18 to close at Rs 12.72.
The top three gainers were Wyeth Pak Ltd with price per share of 4533.87 (215.89), Nestle Pakistan with price per share of 8500 (200) and Philip Morris Pak share of 2199.59 (96.71).
The top three losers were Rafhan Maize with price per share of 7410 (-47.50), Exide (PAK) with price per share of 1099.82 (-34.47) and Siemens Pak per share of 1128.84 (-31.83).
Earlier, the stocks remained bullish as the benchmark 100-index added 205.82 points to reach 42644.86 points level in early trading. The Pakistan Stock Exchange remained bullish till midday after gaining 265.77 points to take the tally to 42704.81 points level.
On Monday, the PSX witnessed bullish activity and gained 114 points and closed at 42,439 points. E&P sector led the gains in the market as the sector closed 1.1% higher from its previous close. E&P sector gained on the back of rally in oil prices, adding to last week’s strong gains on growing expectations that global oil producers will find a way to cap output at a meeting scheduled for the end of this month. POL (1.13%) and OGDC (0.99%) were the major gainers of the aforementioned sector.
Overall, volumes decreased by 29.1% to 347m shares, while value decreased by 22.7% Rs9.3b/$90m. Global sell off in emerging markets led investors to remain cautious which resulted in narrow range session. Oil marketing companies led interest as PSO gained 1% while HASCOL closed at its upper limit of 5%.
