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PSX again closes negative after losing 642pts

PSX again closes negative after losing 642pts

KARACHI: The Pakistan Stock Exchange again witnessed a bearish day on Thursday as the benchmark 100-index lost huge 642.17 points to drop to 42268.62 points level at closing.

The stocks recorded the highest trading level of 43173.22 points and lowest level of 42136.17 points, with the volume of over 184.65 million shares and value of Rs10.05 billion. As many as 374 companies were active; of which 104 advanced, 257 declined and 13 remained unchanged.

Azgard Nine was the volume leader with 21 million shares, shedding Rs0.62 to reach Rs15.55. It was followed by TRG Pak Ltd with 17.06 million shares, losing Rs2.09 to end at Rs39.90 and Aisha Steel Mill with 9.018 million shares, dropping Rs0.88 to close at Rs19.47.

The top three gainers were Unilever Foods with price per share of 6300 (100), Nestle Pakistan with price per share of 11000 (79.38) and Rafhan Maize of 6800 (50).

The top three losers were Wyeth Pak Ltd with price per share of 2089.61 (-96.40), Pak Tobacco with price per share of 1529.74 (-80.51) and Service Ind. Ltd share of 1059.19 (-55.74).

Earlier, the stocks started trading on positive note as the benchmark 100-index gained 262 points to reach 43173 points level in early trading. The PSX became bearish till midday after shedding 163.53 points to drop to 42747.26 points level.

On Wednesday, the stocks witnessed strong recovery in Wednesday’s trading session as value investors took the opportunity to buy stocks at attractive prices. KSE 100-share index closed at 42,911 points after gaining 967 points.

Volumes however deteriorated by 23% to 167 million shares, compared to 217 million in the previous trading session. While traded value declined to Rs9.3b/$89m. Scrips of total 396 active companies participated in the session of which 314 finished in advance, 71 in decline while 11 remained unchanged. TRG from the technology and communication sector led the volumes as 14 million shares were exchanged.