PSX ends rough trading day with minor gains

KARACHI: After the rallying to two consecutive days of the week, the Pakistan Stock Exchange (PSX) struggled to maintain control and ended the day with a minuscule gain.

The benchmark KSE 100 index slipped by 76.96 points moments after trading resumed before it quickly rebounded. The indices gradually starting falling by 111.03 points to reach its lowest point at 39,937.63 points.

The bourse went on an upward and managed to close with a gain of 17.96 points and closed at 34,034.65 points. The total volume of shares was 95.677 million valued at Rs4.153 billion.

The KSE 30 index went also declined by 58.84 points (-0.40%) and closed at 14,718.84 points. The total volume of shares was 51.653 million. KMI 30 index appreciated by 60.34 points (0.11%) and closed at 55,999.12 points, while All-Share index dropped by 10.01 points at 24,391.24 points.

The most active stocks saw a decline in shares prices namely TRG Pakistan (TRG -1.15%), Unity Foods (UNITY -1.11%) and Pak Refinery (PRLR1 -12.28%). The total volume of shares was 16.397 million, 12.642 million and 11.830 million respectively.

The top contributor to the KSE 100 index was oil and gas exploration  (-52.57 points) while the highest change in market capitalization was seen in the technology and community sector (-2.09%).

On the economic front, the State Bank of Pakistan announced to have received $1 billion from the World Bank and $500 million to the Asian Development Bank (ADB). The current account balance in May 2020 turned marginally positive after a deficit of $520m recorded in April 2020.