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PSX adds 288pts to tally to 48698pts level

PSX adds 288pts to tally to 48698pts level

KARACHI: The Pakistan Stock Exchange Monday remained bullish and gained 288.30 points to take the tally to 48697.65 points level.

The stocks recorded the highest trading level of 48757.38 points and lowest level of 48409.35 points, with the volume of over 134.74 million shares and value of Rs6.09 billion. As many as 374 companies were active; of which 213 advanced, 147 declined and 14 remained unchanged.

K-Electric was the volume leader with 12.31 million shares, shedding Rs 0.13 to finish at Rs 9.03. It was followed by Aisha Steel Millwith 10.38 million shares, adding Rs 1.05 to end at Rs 23.36 and BoP with 9.28 million shares, adding Rs 0.16 to close at Rs 16.27.

The top three gainers were Wyeth Pak Ltd with price per share of 2726.97 (129.85), Bata (Pak) with price per share of 4200 (110) and Colgate Palmolive share of 2270 (70).

The top three losers were Philip Morris Pak with price per share of 2239.20 (-117.83), Rafhan Maize with price per share of 7600 (-50) and Hinopak Motor per share of 1561.79 (-37.41).

Earlier, the stocks started new week with positive note and gained 343 points to reach 48752 points level in early trading. Despite shedding some early gains, the PSX remained in green zone till midday as the benchmark 100-index added 156 points to take the tally to 48565 points level.

On Friday, the stocks opened on a positive note as the index traded at intraday high of 438 points to finally close at 48,409 level by rallying around 120 points. HBL witnessed high volatility with highest volume traded since 2007 of 15.5 million shares. Surge in global crude prices supported selected oil stocks. Pre-budget speculations in cement, banking and auto stocks played a catalyst role in bullish close, market participants said. Overall, volume increased by 17.7 percent to 212 million shares, while value rose by 61.7 percent to Rs16.5 billion.