KARACHI: The Pakistan Stock Exchange Tuesday gained record points in one day over PTI Chairman Imran Khan’s decision of delaying protest in wake of Supreme Court’s action in Panama case.
The benchmark 100-inded added mammoth 1406.03 points to reach 41299.87 points level at closing.
The stocks recorded the highest trading level of 41340.68 points and lowest level of 39855.42 points, with the volume of about 506 million shares and value of 17.23 billion. As many as 412 companies were active; of which 356 advanced, 43 declined and 13 remained unchanged.
K-Electric was the volume leader with 41.03 million shares, gaining Rs 0.27 to finish at Rs 9.60. It was followed by BoP with 28.51 million shares, adding Rs 1.00 to end at Rs 16.61 and 1st Dawood Bank with 22.51 million shares, gaining Rs 0.97 to close at Rs 3.51.
The top three gainers were Nestle Pakistan with price per share of 8311 (211), Wyeth Pak Ltd with price per share of 3294.03 (88.24) and Indus Motor Co share of 1586.19 (74.45).
The top three losers were Murree Brewery with price per share of 1002.72 (-52.77), Rafhan Maize with price per share of 7412.50 (-27.50) and Sapphire Tex per share of 1445 (-15).
Earlier, the stock market opened positive gaining 90 points to take the tally to 39983.92 points level in early trading. The Pakistan Stock Exchange witnessed upward rally till midday after adding huge 523.39 points to again cross the psychological barrier of 40,000 mark and reached 40417.23 points level.
On Monday, the stocks remained positive all the day, but closed almost flat after gaining 20.96 points to reach 39,893.84 points level.
K-Electric (up 2.5%), which was volume leader, gained on the back of Abraaj Group’s announcement that KES Power (Abraaj controlled) had entered into a definitive agreement to divest its 66.4% shareholding in K-Electric to Shanghai Electric Power Company Limited (SEP) for a consideration of $1.77b. PNSC (up 1.8%) continued its post-result momentum, as the shipping company announced that it had decided to introduce ferry service. NETSOL (up 4.8%) also closed up on strong 1QFY17 result announcement. Overall, volumes declined by 27.7% to 237m shares, while value decreased by 31% to Rs7.5b/$72m.
