PSX fails to regain control in flat trading session

KARACHI: The Pakistan Stock Market (PSX) failed to end the day with 35,000 points level on Thursday after a volatile session which saw the stock market with minor gains.
The benchmark KSE 100 index gained 286.06 points to reach the 35,175.47 points during intra-day trading until it had a steep plunge and failed to regain control. The indices reached its lowest level of 34,889.41 points before trading was suspended. The bourse eventually settled with a gain of 88.77 points and closed at 34,979.18.
The lower bench KSE 30 index gained 36.11 points and closed at 15,157.86 points. The total volume of shares was 141.251 million. The KMI 30 index dropped by 78.98 points and closed at 56,482.67, while All-Share index gained 88.19 points and closed at 25,047.63 points.
The highest contributor to the KSE 100 index was Worldcall Telecom (WTL 11.70%) after reporters emerged of takeover by ARY Communication. It traded 52.827 million shares.
This was followed by TRG Pakistan (TRG 3.87%), Maple Leaf Cement Factory (MLCF -0.36%), Pak Elektron (PAEL 0.71%), and Hascol Petroleum (HASCOL 1.47%).
The overall market volumes inflated from 315.52 million shares in last session to 382.41 million shares. Out of total shares traded 190 advanced and 125 declined.
The sectors adding positivity to the KSE 100 index included Banking sector (+57.51 points), Technology sector (+24.17 points) and Food and Personal Care Products sector (+15.90 points).
Company-wise, Nestle Pakistan Limited (NESTLE +19.57 points), MCB Bank Limited (MCB +18.47 points) and United Bank Limited (UBL +18.10 points) were top points contributors.
Comments: 0

Your email address will not be published. Required fields are marked with *