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Home / Markets / PSX closes negative, loses 47,000 level after shedding 584pts
PSX closes negative, loses 47,000 level after shedding 584pts

PSX closes negative, loses 47,000 level after shedding 584pts

KARACHI: Opened on positive note, the Pakistan Stock Exchange closed negative as the benchmark 100-index dropped 584.17 points to reach 46858.56 points level on Friday.

The stocks recorded the highest trading level of 47527.41 points and lowest level of 46733.70 points, with the volume of over 129.04 million shares and value of Rs7.36 billion. As many as 320 companies were active; of which 102 advanced, 196 declined and 22 remained unchanged.

BoP was the volume leader with 18.60 million shares, shedding Rs0.07 to reach Rs0.20. It was followed by WorldCall Telecom with 12.27 million shares, adding Rs0.33 to end at Rs3.55 and K-Electric with 10.14 million shares, gaining Rs0.09 to close at Rs7.05.

The top three gainers were Wyeth Pak Ltd with price per share of 2193 (27.50), Exide (PAK) with price per share of 1026.02 (24.50) and Agriautos Ind of 434 (19).

The top three losers were Rafhan Maize with price per share of 7100 (-50), Sanofi-Aventis with price per share of 1945 (-30.01) and Siemens Pak share of 745.91 (-29).

Earlier, the stocks opened on positive note and added 73 points to reach 47515.53 points level in early trading. The PSX became bearish till midday after shedding 386 points to drop to 47056.59 points level.

On Thursday, the stocks closed lower amid pressure in oil stocks after global crude prices sink below $45/barrel. The benchmark shares index lost 165 points to close at 47,442.73 level. Power Cement emerged volume leader with 110 million traded shares. Market participation improved as volumes surged 39 percent to 355 million shares, while traded value rose 12 percent to Rs11.6 billion.