KARACHI: The Pakistan Stock Exchange closed bearish and lost 50,000 level as the benchmark 100-index shed 204.48 points to drop to 49958.33 points level on Thursday.
The stocks recorded the highest trading level of 50290.49 points and lowest level of 49875.56 points, with the volume of about 269 million shares and value of Rs11.8 billion. As many as 384 companies were active; of which 149 advanced, 221 declined and 14 remained unchanged.
Bank of Punjab was the volume leader with 25.95 million shares, shedding Rs0.21 to reach Re1. It was followed by Power Cement with 25.57 million shares, losing Rs25.57 to end at Rs1.59 and Dost Steels Ltd with 22.47 million shares, shedding Rs 0.58 to close at Rs14.76.
The top three gainers were Nestle Pakistan with price per share of 10200 (200), Unilever Foods with price per share of 6350 (50) and Atlas Battery of 990.01 (33.32).
The top three losers were Sanofi-Aventis with price per share of 2000 (-86), Wyeth Pak Ltd with price per share of 2284.50 (-51.83) and Siemens Pak share of 822.35 (-26.10).
Earlier, the PSX opened on positive note recouping 77 points to reach 50240 points level in early trading. The benchmark 100-index shed 245 points to drop to 49917.84 points level till midday.
On Wednesday, the stock market remained volatile as well, where it made an intra-day high of 204 points and an intra-day low of 176 points and finally close up 18 points at 50,163 points.
Major contribution to the index came from OGDC (up 1.40%), UBL (0.81%) and ISL (4.0%) as they cumulatively contributed 69 points to the index. On the flipside, major laggards were HUBC (down 1.62%), ENGRO (1.08%) and NBP (2.16%) as they cumulatively eroded 49 points from the index. Market participation thinned while volumes were flat compared to the previous day. Traded value dipped 16% to Rs11.3b.
