The Pakistan Stock Exchange has ended Wednesday’s trading session on a positive note, with the benchmark KSE-100 index gaining 42 points, or 0.09 per cent, by the close of the trading session to reach 49,827 points.
Volumes were led by commercial bank scrips, followed by chemical and engineering company stocks as the benchmark index felt the impact of bearish sentiment spilling over from a day earlier.
"Stocks showed recovery led by banking and auto stocks amid strong quarter-end earnings announcements at PSX," said Arif Habib Corp analyst Ahsan Mehanti.
"Pressure remained in oil stocks on falling global crude prices and investor concerns remained over current account deficit, which stood at $6bn in Jul-Mar 2017," Mehanti added. "Easing political noise, record quarter-end corporate earning announcements in auto, banking stocks played a catalyst role in the higher close."
120.9 million shares had changed hands by the end of the session, with a total worth of nearly Rs11.9 billion.
Stocks of 388 companies were traded, of which 167 gained in value, 202 declined and 19 remained unchanged.
Volumes were led by:
Summit Bank: 22.6m shares traded [+4.42pc];
Azgard Nine: 21.7m shares traded [-0.07pc];
Engro Polymer: 20.2m shares traded [-3.23pc];
Aisha Steel Mill: 20.2m shares traded [-1.02pc]; and,
Bank of Punjab: 18.9m shares traded [+7.87pc].
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