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PSX closes flat after recovering midday losses

The index closed lower by 5.70 points at 47,312.33.

KARACHI: The Pakistan Stock Exchange (PSX) today (Thursday) closed flat after recovering almost all its intra-day losses as worry over the start of the fourth Covid wave in Pakistan took a toll on investor sentiment.

The benchmark KSE-100 index swung in both directions in search of clarity before reaching an intraday low of 46,955.10. During the second half, the index recovered almost all its losses and touched an intraday high of 47,353.91.

The index closed lower by 5.70 points at 47,312.33. The KMI-30 index gained 97.42 points to settle at 76,544.57, while the KSE All Share index fell short by 37.40 points ending the day at 32,270.88.

Sectors dragging the benchmark KSE 100 index lower included chemical (4.09 points), automobile parts and accessories (3.26 points), and cement (1.95 points).

Volume on the all-share index increased from 365.77 million on Wednesday to 376.44 million on Thursday. The value of shares traded during the session amounted to Rs12.267 billion, a minor increase from Rs12.266 billion on Wednesday.

WorldCall Telecom remained the volume leader with 50.15 million shares, followed by Byco Petroleum with 47.10 million shares, and Unity Foods Limited at 16.14 million shares.

Shares of 405 companies were traded on Thursday, of which 145 registered an increase, 243 recorded a fall, while 17 remained unchanged.