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PSX sheds huge 572pts to close at 42775 level

PSX sheds huge 572pts to close at 42775 level

KARACHI: The Pakistan Stock Exchange (PSX) Thursday shed huge 571.99 points to drop to 42775.04 points level at closing.

The stocks recorded the highest trading level of 43386.73 points and lowest level of 42705.66 points, with the volume of 167.70 million shares and value of Rs8.70 billion. As many as 380 companies were active; of which 94 advanced, 253 declined and 33 remained unchanged.

K-Electric Ltd was the volume leader with 12.52 million shares, adding Rs0.08 to reach Rs6.24. It was followed by Sui South Gas with 11.23 million shares, shedding Rs0.07 to end at Rs38.52 and Engro Polymer with 9.93 million shares, gaining Rs0.54 to close at Rs33.01.

The top three gainers were Linde Pakistan with price per share of 282.39 (13.44), laxo Healthcare Pak with price per share of 228.82 (10.75) and Blessed Tex of 225.77 (10.75).

The top three losers were Sapphire Tex with price per share of 7400 (-86.30), Nestle Pakistan with price per share of 1133.56 (-59.66) and Sanofi-Aventis share of 1802.89 (-50.36).

Earlier, the stocks opened bearish and shed 98 points to reach 434249 points level in early trading. The PSX remained bearish till midday as the benchmark 100-index shed 55 points to drop to 43292 points level.

On Wednesday, the stocks remained range-bound and the 100-share index, after making an intra-day low of 107 points and high of 183 points, closed at 43,347 points by gaining 94 points.

Top 5 index point contributors were MCB (up 2.1%), UBL (1.5%), PSO (1.5%), NML (3.2%) & NRL (4.3%) adding 107 points, while HBL (down 1.9%), SNGP (2.6%), MEBL (4.5%), OGDC (0.5%) & KEL (2.4%) eroded 120 points.

Total volume for the day was 223 million shares as compared to 219m shares in the previous trading session. While traded value stood at Rs12b/$113.6m. WTL (down 10%) and TRG (up 0.52%) from the tech sector led the volume with 26m shares and 24m shares traded respectively.

Scrips of total 396 active companies were participated in the session of which 207 closed in advance, 170 in decline while 19 remained unchanged.