The Pakistan Stock Exchange (PSX) faced a turbulent session as the index nose-dived from its fresh all-time high made in the morning session. Investors continued to shuffle their portfolios on earnings announcement and expectations as they also await the fiscal year’s first monetary policy statement. The State Bank of Pakistan is set to declare the next quarter’s policy tomorrow (Saturday). The KSE-100 index stroked another all-time high intrude and shot up 281.24 points to 39,716.21. The index then collapsed to 39,325.11 points down 109.86 points in the afternoon. The volatile session ended with slight appreciation of 34.01 points at 39,468.98. The KMI 30 index swayed between positive 386.91 points and negative 469.80 points. The index settled down 250.40 points at 69,827.66 surrendering to sell-off in oil related scripts. The KSE All Share index landed 52.05 points up at 26,288.12. The advancers to decliner’s ratio for the day were 147 to 192. The market volumes dropped to 181.34 million from last session’s 224.25 million. The technology and communications sector remained volume leader for the day followed by the cement sector. Dewan Cement Limited (DCL -0.45%) was top traded for the third consecutive session. Recovery was seen in the script from yesterday’s lower lock as it closed down only 0.45%. Gharibwal Cement Limited (GWLC+4.99%) completed its hat trick on top with another upper cap. Sentiments in the sector were mixed and Lucky Cement Limited (LUCK) gained 1.54% while Maple Leaf Cement Factory Limited (MLCF) shed 0.55%. All Oil related scripts plunged, Pakistan Oilfields Limited (POL) laid off 3.06%, Pakistan State Oil Company Limited (PSO) lost 1.01% and Attock Refinery Limited (ATRL) lost 1.96% in price. Earnings report proved to be a disaster again on Wednesday. Auto giant Pakistan Suzuki Motors Company Limited (PSMC -5.00%) crashed to lower circuit breaker price on financial results announcement for second quarter. The company sales fell 4.99% in the absence of Punjab government’s cab scheme. Net profit dried up 48.52% quarter-on- quarter as per share earnings mounted to Rs 5.93. Archroma Pakistan Limited (ARPL -4.97%) also lost on announcement of third quarter earnings per share of Rs 7.49 against last year same period EPS of Rs 8.72. Colgate – Palmolive (Pakistan) Limited (COLG +1.35%) managed to gain 1.35% on declaration of financial year 2016 results. The entity reported 6.20% higher sales, which helped gross margin improve to 36.08% from 31.59%. Net margins raised to 10.92% from last year’s 9.14% as after taxation profit rose 26.85%. Earnings per share clocked at Rs 58.78 and the board approved a cash dividend of Rs 50 per share.