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After a day of trading in red, the Pakistan Stock Exchange’s benchmark KSE-100 index recovered some of its losses on Wednesday.
As of 11:42am, the KSE was up 381.55, or 0.75 per cent. Yesterday, it had closed at 51,027.94 points. By close, however, the index settled 149.19 points, or 0.29pc ahead.
On Monday, the stocks rallied in anticipation of a substantial hike in gas prices by the Economic Coordination Committee. The energy sector was the main player in this surge.
However, the index experienced minor losses on Tuesday as investors decided to off-load. The drivers behind the decline were cited to be geopolitical uncertainties and anxiety over the IMF review in November for the $710 million tranche release.
Major activity was reported in stocks such as Worldcall Telecom Limited, The Bank of Punjab, Fauji Cement Company Limited, Pakistan State Oil Company Limited and Oil & Gas Development Company Limited.
Top advancers included Tri-Star Mutual Fund Limited, Al Shaheer Corporation Limited, Next Capital Limited, Shabbir Tiles & Ceramics Limited and First Punjab Modaraba.
Top decliners included Dewan Sugar Mills Limited, Reliance Weaving Mills Limited, Rupali Polyester Limited, Pakistan Paper Products Limited and Pakistan Hotels Developers Limited.