KARACHI: The Pakistan Stock Exchange Wednesday witnessed hefty bullish note and crossed the psychological barrier of 34,000 mark. The benchmark 100-inded gained mammoth 421.54 points to take the tally to 34269.28 points level at closing.
The stocks recorded the highest trading level of 34307.30 points and lowest level of 33847.74 points, with the volume of 258 million shares, having about Rs12.51 billion value. As many as 358 companies were active; of which 216 advanced, 127 declined and 15 remained unchanged.
Oil & gas marketing companies was the top traded sector with 37,985,300 volume, while technology & communication remained second with 27,867,000 volume.
The three top traded companies were Sui North Gas with a volume of 26,966,500 and price per share of 33.40 (0.12), Dewan Motors with a volume 14,121,000 of price per share of 14.20 (0.16), TRG Pak Ltd with a volume 13,154,000 of price per share of 35.40 (0.14).
The top three gainers were Pak TobaccoXD with price per share 1187.62 (56.55), Unilever FoodsXD with price per share of 5555 (55) and Hinopak Motor price per share of 1075.12 (51.19).
The top three losers were Nestle Pak XD with price per share of 7100 (-100.02), Sapphire Fiber with price per share of 580.05 (-21.62) and Masood Textile per share of 178.56 (-9.39).
Earlier, the Pakistan Stock Exchange opened bullish, adding 156.25 points to cross the psychological barrier of 34,000 mark to reach 34,003.99 points level in early trading. The upward rally continued till midday as the benchmark 100-index added another 268.70 points to reach 34116.44 points level.
On Tuesday, the Pakistan Stock Exchange benchmark 100-share index gained 163.18 points to close at 33,847.74 points. Bull-run was witnessed in the banking sector with UBL rising 0.83 per cent and ABL 2.16 per cent after declaring their financial results for the 1Q2016, which were both better than market’s expectations, dealers said. Volume increased by 50 per cent to 258m shares while value increased by 86 per cent to Rs 11.9 billion. NML announced result of EPS Rs7.2 which was above expectations. Stock closed up by 2 per cent. Earnings of Rs1.2/share were announced by PAEL which led the stock to decline by 1.1 per cent. FFC & OGDC announced disappointing results which led their stocks to decline by 1.8 per cent & 1 per cent respectively.