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Shares at PSX end slightly up after volatile session

KSE-100 index recorded an increase of 53.73 points

KARACHI: The Pakistan Stock Exchange (PSX) closed slightly higher on Tuesday, with the benchmark KSE-100 index gaining 53 points (0.12 per cent) to close at 43,883.08.

Trading began on a negative note and selling pressure strengthened within the first hour, which dragged the market down. However, cherry-picking by market players later in the day helped lift the KSE-100 index and it closed with nominal gains.

The KSE 100 index witnessed a volatile session, touching an intra-day low and high of 43,149 (down 1.55%) and 44,051 (up 0.51%). At close, the benchmark KSE-100 index recorded an increase of 53.73 points or 0.12% to settle at 43,883.08 points.

During the session, shares of 535 listed companies were traded. At the end of the session, 217 stocks closed in the green, 302 in the red, and 16 remained unchanged.

WorldCall Telecom was the volume leader with 51.1 million shares, losing Rs0.04 to close at Rs2.21. It was followed by Telecard Limited with 27.6 million shares, losing Rs0.72 to close at Rs16.55, and Treet Corporation with 21.8 million shares, losing Rs4.02 to close at Rs49.64.

 Sapphire Tex witnessed a maximum increase of Rs40 per share, closing at Rs1070. Abbott Lab was runner-up, share prices of which increased by Rs19.96, closing at Rs777.96.

Wyeth Pak Ltd recorded a maximum decrease of Rs42.40 per share, closing at Rs1607.60 followed by Pak Tobacco, the prices of which declined by Rs42.33 per share, closing at Rs1149.67.