KARACHI: The Pakistan Stock Exchange (PSX) Wednesday continued bearish trend as the benchmark 100-index shed 376.08 points to drop to 42290.15 points level.
The stocks recorded the highest trading level of 42666.23 points and lowest level of 42101.68 points, with the volume of 146 million shares and value of Rs5.41 billion. As many as 364 companies were active; of which 99 advanced, 241 declined and 24 remained unchanged.
K-Electric Ltd was the volume leader with 13.66 million shares, shedding Rs6.75 to reach Rs6.75. It was followed by WorldCall Telecom with 13.13 million shares, adding Rs0.10 to end at Rs3.54 and BoP with 11 million shares, shedding Rs0.02 to close at Rs9.24.
The top three gainers were Unilever Foods with price per share of 6600 (50), Murree Brewery with price per share of 763.35 (36.35) and Shezan Inter of 425.76 (20.27).
The top three losers were Rafhan Maize with price per share of 7106 (-294), Wyeth Pak Ltd with price per share of 2002.35 (-78.15) and Sanofi-Aventis share of 1750 (-49.99).
Earlier, the socks opened bearish and shed 145.56 points to drop to 42520.67 points level in early trading. The bearish trend further intensified at the Pakistan Stock Exchange till midday as the benchmark 100-index dropped 462.66 points to reach 42203.57 level.
On Tuesday, volatility prevailed in the PSX as the 100-share index remained range bound and closed down by 77 pints at 42,666 points. POL (up 3.53%), ATRL (0.83%), INDU (0.96%) and MTL (0.67%) were the major leaders for the day, cumulatively contributing 48 points to the index gain.
On the other hand, LUCK (down 1.06%), HBL (2.57%), ENGRO (1.19%), and NBP (5%) were the major laggards, taking the index down by 135 points.
Selling pressure was witnessed in the cement sector where heavyweights LUCK (down 1.06%), DGKC (0.86%), KOHC (2.56%), and MLCF (1.22%) closed in the red zone. Volume traded was slightly better than the previous day at 145m shares while traded value improved to Rs7.2b/$69m.
KEL (up 9.19%) was the volume leader for the day with 34m shares of the power stock changing hands. Scrips of total 370 active companies traded in the session of which 127 concluded in advance, 223 in decline while 29 remained unchanged.
