Out of total 369 active scrips, 222 closed in negative, 130 in positive while the value of 17 stocks remained unchanged. Foreign investors remained net sellers of shares worth $2.9 million. K-Electric was the volume leader with 32.121 million shares. It closed at Tuesday''s level of Rs 8.00 without any change followed by Engro Polymer that gained Rs 0.40 to close at Rs 28.92 with 25.404 million shares. TRG Pak declined by Rs 2.73 to close at Rs 53.02 with 24.244 million shares.
Colgate Palmolive and Rafhan Maize were the top gainers with Rs 99.67 and Rs 97.75, respectively to close at Rs 2,300.00 and Rs 7,112.75. Sanofi-Aventis and Pak Tobacco were the top losers with Rs 81.78 and Rs 50.00, respectively to close at Rs 2,290.00 and Rs 1,500.00. Arhum Ghous at JS Global Capital said that volatile session was witnessed at the local bourse as the index traded between an intraday high of 240 points and intraday low of 199 points to finally close at 48,605 level, down 84 points. This pressure in the market was on the back of investor skepticism regarding the political scenario in the country. The major laggards of the index were TRG (down 4.90 percent), ISL (down 4.97 percent) and SNGP (down 1.72 percent), as they cumulatively eroded 61 points from the index. On the flipside, PPL (up 1.43 percent) and OGDC (up 0.77 percent) were the major leaders of the index as oil prices rebounded from its near 2017 low and recent data reported a much higher than expected fall in US crude stocks. Banking sector closed (up 0.43 percent) higher than its previous day close as UBL (up 0.29 percent), MCB (up 0.85 percent) and BAFL (up 2.44 percent) closed in the green zone.
Copyright Business Recorder, 2017