KARACHI: The Pakistan Stock Exchange remained bearish on Wednesday as the benchmark 100-index lost 188.90 points to drop to 42622.37 points level at closing.
The stocks recorded the highest trading level of 42865.59 points and lowest level of 42583.10 points, with the volume of over 394 million shares and value of Rs 13.62 billion. As many as 397 companies were active; of which 148 advanced, 235 declined and 14 remained unchanged.
BoP was the volume leader with 37.24 million shares, shedding Rs 0.01 to finish at Rs 19.51. It was followed by Pace (Pak) Ltd with 24.26 million shares, adding Rs 0.38 to end at Rs 13.16 and Aisha Steel Mill with 22.39 million shares, gaining Rs 0.10 to close at Rs 14.93.
The top three gainers were Philip Morris Pak with price per share of 2193.55 (82.44), Pak Tobacco with price per share of 1080.92 (43.42) and Nestle Pakistan share of 8750 (40).
The top three losers were Wyeth Pak Ltd with price per share of 4243 (-88.63), Island Textile with price per share of 1168.15 (-61.47) and Siemens Pak per share of 1147.54 (-52.46).
Earlier, the stocks opened keeping previous day’s bearish note and shed 81.45 points to reach 42729.82 points level in early trading. The Pakistan Stock Exchange remained bearish till midday and lost 69.71 points to drop to 42741.56 points level.
On Tuesday, the PSX 100-index declined by 249 points to close at 42,811 points. Market opened on a positive note and rallied to make an intra-day high of 237 points but came under selling pressure in the last session. Overall, volumes increased by 27 per cent to 585m shares, while value increased by 33 per cent to Rs17.7b/$169m. Banking stocks led the index to decline as HBL, UBL and MCB declined between 1.5 per cent and 2.9 per cent while contributing 146 points to the fall in index.
