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PSX adds 134pts to reach 39,587

PSX adds 134pts to reach 39,587

KARACHI: The Pakistan Stock Exchange (PSX) again closed positive on Wednesday as the benchmark KSE-100 index gained 134 points to close at 39,587 points.

After hitting a day’s low of 39,209 points within the first few minutes of trading, the index peaked at 40,062 points before settling back below 40,000 points.

In all, 128.4 million shares worth Rs6 billion were traded at the exchange. Of the 323 traded scrips,169 advanced, 143 declined and 11 remained unchanged.

An over 600-point increase was reduced to 134 as investors opted to book intra-day profits amid persistence of political uncertainty ahead of the general elections on July 25.

Fauji Foods Ltd was the volume leader with 8.2 million shares, losing Rs1.65 to close at Rs31.48. It was followed by Pak Elektron with 6.6 million shares, losing Rs0.25 to close at Rs32.9 and Bank of Punjab with 5.3 million shares, gaining Rs0.31 to close at Rs11.54.

Foreign institutional investors were net sellers of Rs747.7 million worth of shares during the trading session