KARACHI: The Pakistan Stock Exchange bounced back in the last session as the benchmark 100-index gained 399.24 points to reach 48071.04 points level at closing on Tuesday.
The stocks recorded the highest trading level of 48513.23 points and lowest level of 47099.99 points, with the volume of over 317 million shares and value of Rs15 billion. As many as 383 companies were active; of which 106 advanced, 207 declined and 16 remained unchanged.
Power Cement was the volume leader with 40.64 million shares, shedding Rs0.20 to reach Rs0.53. It was followed by BoP with 22.13 million shares, losing Rs0.10 to end at Rs0.57 and Engro Polymer with 19.29 million shares, adding Rs1.76 to close at Rs37.02.
The top three gainers were Sanofi-Aventis with price per share of 1994.10 (94.10), Hinopak Motor with price per share of 1649.89 (59.69) and Wyeth Pak Ltd of 2190 (40).
The top three losers were Archroma Pak with price per share of 700.58 (-25.42), Ghandhara Ind with price per share of 757.43 (-23.38) and Exide (PAK) share of 969.75 (-21.42).
Earlier, the stocks recouped almost half of the previous losses and gained huge 794 points to take the tally to 48466 points level in early trading. The Pakistan Stock Exchange again became bearish and shed 213 points till midday to drop to 47459 points level
On Monday, a great number of stocks hit their respective lower locks due to which KSE 100-index lost massive 1,855 points, which represented the biggest ever single-day decline in the history of the exchange, and closed at 47,672 points level.
Major contributors to the KSE-100 index were ENGRO (down 4.97pc), OGDC (5.00pc), HBL (3.27pc), HUBC (4.24pc) and LUCK (3.76pc), which cumulatively eroded 482 points from the index. OGDC, POL (up 4.94pc) and PPL (4.08pc) in the E&P sector lost value to close in the red trajectory as well. Commercial banks heavyweights including UBL (down 3.27pc), HBL and MCB (3.16pc) took away 240 points from the index.
Panic selling was witnessed at PSX after JIT issued summons to Prime Minister Nawaz Sharif to appear before it on June 15 under Panama case.
Foreigners were net buyers of $4.0 million, comprising of gross buy/sell $15.7/11.7 million, with $1.5 million net buying in cement. Market participation ticked up somewhat as volume rose by 5 percent whereas traded value increased 13 percent to Rs9.3 billion. Scrips of total 386 active companies participated in the session of which 349 finished in red, 26 in green while 11 remained unchanged.
