KARACHI: The Pakistan Stock Exchange remained bullish on Thursday and surged by 1.19 per cent or 500.36 points to take the tally to all-time high of 42703.99 points level at closing.
The stocks recorded the highest trading level of 42772.21 points and lowest level of 42203.63 points, with the volume of over 560 million shares and value of Rs 20 billion. As many as 404 companies were active; of which 271 advanced, 126 declined and 7 remained unchanged.
BoP was the volume leader with 68.40 million shares, shedding Rs 0.24 to finish at Rs 20.13. It was followed by PIAC with 51.31 million shares, adding Rs 0.92 to end at Rs 10.44 and WorldCall with 28.47 million shares, gaining Rs 0.24 to close at Rs 2.92.
The top three gainers were Bata (Pak) with price per share of 4300 (100), Nestle Pakistan with price per share of 8396 (96) and Indus Motor Co share of 1670.10 (64.69).
The top three losers were Philip Morris Pak with price per share of 1940.02 (-97.17), Bhanero Tex with price per share of 956.56 (-20.67) and Siemens Pak per share of 1126 (-24).
Earlier, the stocks opened with positive note and gained 293.36 points to reach 42496.99 points level in early trading. The upward rally continued at the Pakistan Stock Exchange as benchmark 100-index added 472.10 points to reach record level of 42675.73 points till midday.
On Wednesday, following the global markets which plunged after news of Donald Trump’s victory in the US elections, the stock market initially declined by 760 points. However, later the 100-share index took a U-turn and recovered to gain 89.72 points, closing at the highest-ever level of 42,203.63 points.
Cement sector extended its previous day gains on the back of encouraging cement dispatch numbers, which were released by APCMA, for the month of Oct-2016. FCCL (2.28%) and KOHC (1.92%) were top performers of the aforementioned sector. OGDC (down 1.41%), POL (0.98%) and PPL (0.64%) in the E&P sector lost value to close in the red zone as crude oil prices remained largely under pressure during the trading hours. Overall, volumes increased by 15% to 552m shares, while value increased by3.4% to Rs21b/$195m.
