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PSX closes almost flat at 42750pts level

PSX closes almost flat at 42750pts level

KARACHI: The Pakistan Stock Exchange (PSX) Friday remained volatile and closed almost flat afted shedding 24.85 points to drop to 42750.19 points level.

The stocks recorded the highest trading level of 42921.13 points and lowest level of 42572.04 points, with the volume of 132 million shares and value of Rs5.44 billion. As many as 363 companies were active; of which 167 advanced, 170 declined and 26 remained unchanged.

WorldCall Telecom was the volume leader with 17.58 million shares, adding Rs0.09 to reach Rs3.52. It was followed by Engro Polymer with 8.92 million shares,adding Rs0.99 to end at Rs34.01 and K-Electric Ltd with 6.78 million shares, gaining Rs0.06 to close at Rs6.27.

The top three gainers were Hinopak Motor with price per share of 1121.55 (28.17), Atlas Honda Ltd with price per share of 542.49 (24.96) and Indus Motor Co of 1756.08 (21.55).

The top three losers were Murree Brewery with price per share of 764.85 (-40.24), Indus Dyeing with price per share of 499.11 (-26.25) and Exide (PAK) share of 531 (-20).

Earlier, the stocks opened on the last trading day of the week keeping bearish note of previous day and shed 203 points to drop to 42572 points level in early trading. The PSX witnessed volatility till midday, however, it managed to remain positive after adding 47 points to reach 42822 points level.

On Thursday, the PSX benchmark KSE 100-index lost 572 points and closed at 42,775 points over prevailing political uncertainty in the country.

Investors participation also contracted during the day as trading volumes were down 26% whereas value was down 27%. Top 5 index point contributors to index decline were HBL (down 2%), MCB (3%), ENGRO (2.4%), UBL (1.5%) & NBP (3.9%), deducting 202 points from index while KEL (up 1 3%) BAFL (0 5%) NRL (0 6%), SNBL (2 2%) & PSMC (0 6%) added 12 points to the index.

Shares of total 402 active companied traded in the session of which 279 concluded in negative, 90 in positive while 33 remained unchanged. K-Electric Ltd with 12.5m shares traded and Sui South Gas with 11.2m shares traded led the volumes.