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:

  1. Summit Bank: 22.6m shares traded [+4.42pc];

  2. Azgard Nine: 21.7m shares traded [-0.07pc];

  3. Engro Polymer: 20.2m shares traded [-3.23pc];

  4. Aisha Steel Mill: 20.2m shares traded [-1.02pc]; and,

  5. Bank of Punjab: 18.9m shares traded [+7.87pc].

Follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

Judiciary’s SOS
Updated 28 Mar, 2024

Judiciary’s SOS

The ball is now in CJP Isa’s court, and he will feel pressure to take action.
Data protection
28 Mar, 2024

Data protection

WHAT do we want? Data protection laws. When do we want them? Immediately. Without delay, if we are to prevent ...
Selling humans
28 Mar, 2024

Selling humans

HUMAN traders feed off economic distress; they peddle promises of a better life to the impoverished who, mired in...
New terror wave
Updated 27 Mar, 2024

New terror wave

The time has come for decisive government action against militancy.
Development costs
27 Mar, 2024

Development costs

A HEFTY escalation of 30pc in the cost of ongoing federal development schemes is one of the many decisions where the...
Aitchison controversy
Updated 27 Mar, 2024

Aitchison controversy

It is hoped that higher authorities realise that politics and nepotism have no place in schools.