PSX fails to retain 42,000 points level

KARACHI: The Pakistan Stock Exchange (PSX) on Wednesday failed to retain the 42,000 points level it lost earlier this week and end the day with minuscule gains.

The benchmark KSE 100 index reached its highest level of 42.023.06 points in early trading but could not retain control as indices dropped to its lowest level of 41,755.69 points. The bourse eventually closed with a gain of 47.35 points. The total volume of shares was 251.509 million valued at Rs8.3 billion.

The lower bench KSE 30 index dropped by 22.51 points and closed at 17,674.11 points. The total volume of shares was 152.04 million. The KMI 30 index declining by 146.06 points ending at 67,040.38, while the KSE All Share index nudged by just 20.36 to 29,754.55 points.

The overall market volumes improved from surged to 583.741 million from 433.92 million shares in the last session as investors dumped stock for profit-taking.

Silk Bank (SILK 6.00%) emerged with the leading volume of shares with 167.490 million. This was followed by Unity Foods Limited (UNITY 0.33%), Jehangir Siddiqui Company (JSCL 7.47%) and Pakistan Telecommunication Company (PTC). The scripts had 51.805 million shares, 36.248 million shares and 27.154 million shares traded respectively.

The textile sector was the highest contributor to the KSE 100 index (36.79 points) while the woolen sector saw the largest share in market capitalization at 7.05 percent.