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PSX closes flat after witnessing fluctuation in trading

PSX closes flat after witnessing fluctuation in trading

KARACHI: The Pakistan Stocks Exchanged (PSX) Wednesday witnessed fluctuation in trading and lost the early gains in the last session as the benchmark 100-index lost 9.51 points to close at 45908.39 points level.

The stocks recorded the highest trading level of 46106.72 points and lowest level of 45857.92 points, with the volume of about 175.73 million shares and value of Rs8.26 billion. As many as 365 companies were active; of which 137 advanced, 209 declined and 19 remained unchanged.

Azgard Nine was the volume leader with 22.81 million shares, adding Rs0.81 to reach Rs14.36. It was followed by Sui South Gas with 16.70 million shares, gaining Rs0.55 to end at Rs43.63 and Dewan Motors with 11.13 million shares, shedding Rs1.38 to close at Rs42.81.

The top three gainers were Unilever Foods with price per share of 2888 (133), Hinopak Motor with price per share of 844.25 (37.92) and Service Ind. Ltd of 1390 (40).

The top three losers were Philip Morris Pak with price per share of 2775 (-113), Bata (Pak) with price per share of 3100 (-70) and Khyber Tobacco share of 758.51 (-39.49).

Earlier, the PSX started day on bullish note and gained 189 points to reach 46107 points level in early trading. The stocks shed some early gains but remained in green zone till midday as the benchmark 100-index added 55 points to reach 45972 points level.

On Tuesday, the stocks witnessed another bullish session as the 100-share index gained 389 points and closed at 45,918 points. Market participation rebounded as volumes shot up 111% to 224m shares while traded value rose 88% to Rs10.2b/$96.3m.

Top 5 index point performers were DAWH (up 3.4%), ENGRO (1.6%), SNGP (2.8%), ISL (4.9%) & OGDC (up 1%), adding 127 points; while ABOT (down 2.3%), LUCK (0.4%), KTML (1.8%), HBL (0.2%) & CHCC (1.2%) held back 35 points. On the sector front, fertilizer added 75 points, OMCs 48 points, E&P 47 points, banks 34 points & insurance 29 points; while textile shed 3 points. TRG from the tech sector again led the market in terms of traded volume with 16 million shares.