KARACHI: The Pakistan Stock Exchange (PSX) Wednesday bounced back with huge 836.45 points to reach 40453.64 level.
The stocks recorded the highest trading level of 40558.97 points and lowest level of 39617.19 points, with the volume of 116.69 million shares and value of Rs6.90 billion. As many as 363 companies were active; of which 248 advanced, 101 declined and 14 remained unchanged.
Pak Elektron was the volume leader with 11.04 million shares, shedding Rs0.27 to reach Rs58.72. It was followed by Dost Steels Ltd with 10.57 million shares, gaining Rs0.95 to end at Rs13.32 and TRG Pak Ltd with 9.54 million shares, adding Rs0.85 to close at Rs33.20.
The top three gainers were Mari Petroleum with price per share of 1521.10 (71.10), Wyeth Pak Ltd with price per share of 1739.99 (59.32) and Hinopak Motor of 1020 (30).
The top three losers were Colgate Palmolive with price per share of 2225 (-95), Khyber Tobacco with price per share of 1543.28 (-81.22) and Pak Tobacco share of 1473.75 (-76.23).
The stocks tried to recouped some losses and added 510 points in early trading to reach 40127 level. The PSX continued its upward journey till midday as the benchmark 100-index gained 613 points to reach 40230 points level.
Yesterday, the bear-run continued at the PSX, with the KSE 100-index plunging by 707 points (1.75%) and closing below the psychological level of 40,000 points. The index closed at 39,617 points, a 12-month low.
Top 5 index point contributors were PAKT (up 4.9%), MARI (2.1%), PPL (0.6%), FATIMA (2.4%) & ATLH (4.6%)), adding 54 points, while top 5 index laggards were HBL (down 2.8%), LUCK (4.6%), MCB (2.3%), ENGRO (2.3%) & UBL (2%), withholding 248 points. Sector wise, commercial banks and cements eroded 319 points cumulatively while tobacco and engineering added 22 points.
Volumes stood at 139m shares, from 99m shares traded the previous day while traded value increased to Rs9.3b from Rs6.3b. PAEL (-3.56%) led volumes with 13m shares exchanging hands. Foreigners were net sellers with total net selling of $19.3m. Total net foreign selling during October stood at $8.9m as against net buying of $28.3m during last month.
