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PSX bounces back with 152pts at closing

PSX bounces back with 152pts at closing

KARACHI: The Pakistan Stock Exchange (PSX) Tuesday witnessed variation in trading and bounced back in the last session with 152.47 points to reach 41279.30 points level at closing.

The stocks recorded the highest trading level of 41411.18 points and lowest level of 41024.54 points, with the volume of over 99.67 million shares and value of Rs5.40 billion. As many as 339 companies were active; of which 136 advanced, 189 declined and 14 remained unchanged.

Engro Polymer was the volume leader with 9.42 million shares, shedding Rs1.28 to reach Rs27.34. It was followed by K-Electric with 9.28 million shares, gaining Rs0.11 to end at Rs6.25 and Jah. Sidd. Co. with 8.962 million shares, adding Rs1.06 to close at Rs23.06.

The top three gainers were Nestle Pakistan with price per share of 12186 (511.07), Rafhan Maize with price per share of 7260.71 (190.71) and Unilever Foods of 6500 (125).

The top three losers were Bata (Pak) with price per share of 2860 (-131.45), Pak Tobacco with price per share of 1450 (-65.43) and Khyber Tobacco share of 848.31 (-44.64).

Earlier, the stocks opened bullish as the benchmark 100-index added 102.75 points to reach 41229.58 points level. The Pakistan Stock Exchange remained bullish till midday as it added 102.75 points to take the tally to 41230 points level.

On Monday, the stocks started new week on a bearish note and witnessed another lackluster session on Monday, as the 100-share index lost 274 points and closed at 41,127 points.

There wasn’t much exchange in the market even though many value stocks announced their financial results including APL (down 3.02%), NRL (down 4.80%), POL (down 3.12%) and ATRL (up 0.77%).

Market opened positive as HBL (up 5%) opened at its upper circuit after the news that it had paid off its penalty of $225m through foreign loans. APL announced its FY17 result where the company posted an EPS of Rs63.89 and DPS of Rs27.5, taking full year DPS to Rs42.50, lower than expectations. ATRL posted an EPS of Rs63.47 and cash dividend of Rs6.0/share, whereas NRL posted an EPS of Rs100.61 and cash dividend of Rs22.5/share. POL (down 3.12%) announced its FY17 result, posting an EPS of Rs40.94 and cash dividend of Rs25/share, taking full year DPS to Rs40.0.

Volume declined 33% at 95m shares while value traded shed 34% at Rs5.5b/$52.7m. Scrips of total 374 active companies participated in the session of which 259 concluded in red, 93 in green while 22 remained unchanged.