PSX registers meager gain owing to absence of positive triggers

KARACHI: Volatility prevailed at the Pakistan Stock Exchange (PSX) as the benchmark KSE-100 closed the first trading session of the week flat even though the volume and price of shares traded increased from the previous closure.

The benchmark index made a positive session start and hit an intraday high of 40,066.33 points. Later, however, there was evidence of profit-taking, which caused the index to drop to an intraday low of 39,840.72.

At close, the benchmark index settled at 40,000.37, an increase of 58.32 points or 0.15%.

Sectors pulling the benchmark KSE-100 upwards included technology & communication (47.97 points), fertilizer (32.48 points) and commercial banks (6.02 points).

Volume on the all-share index increased to 64.5 million from 46.7 million on Friday. The value of shares traded improved to Rs2.5 billion from Rs1.3 billion recorded in the previous session.

WorldCall Telecom was the volume leader with 5 million shares followed by Meezan BankXD with 4.8 million shares and Telecard Limited with 4.4 million shares.

Shares of 298 companies were traded on Friday, of which 122 registered an increase, 148 recorded a fall and 28 remained unchanged.