Bulls under control as PSX seems to lose 40,000 points level

KARACHI: The upward trajectory on the Pakistan Stock Exchange (PSX) came to a halt on Friday as the market lost seems to be losing the 40,000 points regained a day earlier.

Yesterday, the stock market traded over 800 million shares for the first time in nearly a decade. The bourse also closed above the 40,000 points level for the first time since February this year. The bullish trend at the stock market came to an end on the last day of the week.

The benchmark KSE 100 index lost 136.43 points and ended at 40,029.69 points. The indices reached the highest level of 40,465.95 points in intra-day trading. The bourse declined in later day trading end the day on a negative trend. The total volume of shares traded was 368.4 million valued at Rs16.695 billion.

The lower bench KSE 30 index decreased by 148.69 points and closed at 17,275.87 points. The total volume of scripts was 184.677 million. The KMI 30 index lost 342.92 points and closed at 63,967.20 points, while the All-Share Index gained 41.79 points and closed at 28,031.89 points.

The market leader was World Call Telecom Ltd (WTL 1.40%) which showed a massive increase in share prices. The total volume of shares of the company was 143.783 million.

The next top active stocks were Pakistan International Bulk Terminal (PITBL 6.86%), Unity Foods (UNITY 8.17%), and Pak Elektron (PAEL 8.17%). The firms traded 52.390 million, 50.401 million, and 37.498 million shares, respectively.