Business

KARACHI: The Pakistan Stock Exchange (PSX) Wednesday observed bearish trend shedding 216.75 points to reach 46993.31 points level at closing.

The stocks recorded the highest trading level of 47325.91 points and lowest level of 46344.88 points, with the volume of over 388.56 million shares and value of Rs 21.417 billion. As many as 399 companies were active; of which 108 advanced, 273 declined and 18 remained unchanged.

Dost Steels Ltd was the volume leader with 31.13 million shares, shedding Rs 0.79 to finish at Rs 10.77. It was followed by BoP with 22 million shares, losing Rs 0.76 to end at Rs 17.32 and K-Electric with 14.22 million shares, dropping Rs 0.10 to close at Rs 9.28.

The top three gainers were Unilever Foods with price per share of 5700 (100), Nestle Pakistan with price per share of 8700 (90) and Siemens Pak share of 1498.92 (56.18).

The top three losers were Rafhan Maize with price per share of 8000 (-197.50), Sanofi-Aventis with price per share of 2462.50 (-72) and Wyeth Pak Ltd per share of 4731.17 (-59.08).

In early hours trading, the stocks opened negative, shedding 131.24 points to drop to 47078.82 points level in early trading. The bearish note further deepened in the Pakistan Stock Exchange till midday as the benchmark 100-index shed 537.49 points to reach 46672.57 points level after dropping below 47,000 mark.