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PSX closes positive after 399pts gain

PSX closes positive after 399pts gain

KARACHI: The Pakistan Stock Exchange Friday closed on positive note as the benchmark 100-index gained 399.03 points to take the tally to 45222.15 points level.

The stocks recorded the highest trading level of 45291.89 points and lowest level of 44549.45 points, with the volume of about 132.36 million shares and value of Rs6.98 billion. As many as 334 companies were active; of which 236 advanced, 85 declined and 13 remained unchanged.

TRG Pak Ltd was the volume leader with 15.822 million shares, adding Rs1.58 to reach Rs35.93. It was followed by Pak Elektron with 9.49 million shares, gaining sRs0.25 to end at Rs96 and BoP with 9.07 million shares, adding Rs0.38 to close at Rs11.56.

The top three gainers were Service Ind.Ltd with price per share of 1340.50 (45.50), Millat Tractors with price per share of 1304.67 (33.90) and Atlas Honda Ltd of 586 (21).

The top three losers were Nestle Pakistan with price per share of 10300 (-100), Wyeth Pak Ltd with price per share of 2100 (-29.99) and Honda Atlas Cars share of 738.31 (-17.78).

Earlier, the PSX opened on positive note and gained 73 points to reach 44896 points level in early trading. Pakistan Stock Exchange (PSX) Friday again became bearish after shedding 156 points to drop to 44667 points level.

On Thursday, the stocks witnessed another bearish session as the benchmark KSE 100-index, after trading between an intra-day high of 166 points and intra-day low of 853 points, closed at 44,823 points, declining by 590 points.

Major laggards of the index were LUCK (-2.43%), HUBC (-2.28%) and FFC (-3.36%). E&P sector lost value to close in the red zone on back of oil prices retreating by about 4 percent, ending their longest bull-run in more than five years. POL (-2.50%) and PPL (-1.07%) were the major loosers of the sector. Selling pressure was seen in the cement sector where POIC (-4.95%), LUCK (-2.43%) and DGKC (-1.66%) lost value to close in the red trajectory.

Volumes stood low at 146m shares versus 204m shares traded in the previous session. While traded value also declined to Rs8b/$87m.