KARACHI: After observing two consecutive bearish days, the Pakistan Stock Exchange Wednesday witnessed bullish note and gained huge 434.60 points to take the tally to 36496.16 points level at closing.
The stocks recorded the highest trading level of 36518.73 points and lowest level of 36044.60 points, with the volume of over 206 million shares, having Rs 8.11 billion value. As many as 349 companies were active; of which 240 advanced, 88 declined and 21 remained unchanged.
Power generation & distribution was the top traded sector with 55,685,000 volume, while commercial banks remained second with 19,611,900 volume.
The three top traded companies were K-Electric Ltd with a volume of 50,652,000 and price per share of 8.02 (0.47), TRG Pak Ltd with a volume 12,843,500 of price per share of 36.85 (1.59), Pak Int.Bulk with a volume 11,275,000 of price per share of 31.75 (1.51).
The top three gainers were Unilever Foods with price per share 5386.50 (256.50), Ferozsons (Lab) with price per share of 995 (31.36) and Pak Tobacco price per share of 1080 (19.04).
The top three losers were Rafhan Maize with price per share of 8355 (-435), Sanofi-Aventis with price per share of 533 (-27) and Philip Morris Pak per share of 1680 (-13.70).
Earlier, the PSX again opened with positive note and gained 274.06 points to reach 36335.62 points level in early trading. The upward rally continued till midday as the stocks gained 282.18 points to reach 36343.74 points level.
On Tuesday, the bearish trend persisted at stock market on second consecutive day. The bench mark 100-share index conceded another 173.13 points (0.48%) to close at 36061.56 points. Market opened on a positive note as the index rallied to make an intra-day high of 180 points but succumbed to selling pressure during the late hours. Selling pressure during the late hours can be attributed to sceptical investors’ preference to remain on the sidelines before the budget announcement. Volumes increased by 7.3% to 220m shares while value also increased by 12% to Rs10.3b.