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PSX closes positive despite profit-taking

PSX closes positive despite profit-taking

KARACHI: The Pakistan Stock Exchange (PSX) Friday witnessed fluctuation in trading due to profit-taking, however, the stocks managed to close positive after gaining 103.62 points to reach 42787.19 points level.

The stocks recorded the highest trading level of 43014.42 points and lowest level of 42538.05 points, with the volume of over 200 million shares and value of Rs13.130 billion. As many as 354 companies were active; of which 126 advanced, 209 declined and 19 remained unchanged.

Dost Steels Ltd was the volume leader with 16.26 million shares, adding Re1 to reach Rs12.11. It was followed by TRG Pak Ltd with 10.34 million shares, gaining Rs0.40 to end at Rs38.63 and Bank Al-Falah with 9.66 million shares, shedding Rs0.70 to close at Rs41.49.

The top three gainers were Unilever Foods with price per share of 6450 (172), Island Textile with price per share of 982 (44.51) and Bhanero Tex of 848.25 (40.38).

The top three losers were Nestle Pakistan with price per share of 12350 (-127.33), Bata (Pak) with price per share of 2950 (-50) and Sanofi-Aventis share of 1752.01 (-47.14).

Earlier, the stocks started the last trading day on positive note as the benchmark 100-index gained 306 points to reach 42989 points level in early trading. The PSX shed most of the early gains but remained in green zone after adding 63.64 points to reach 24747 points level till midday.

On Thursday, the stocks continued its upward trajectory as the benchmark KSE-100 index gained 373 points and closed at 42,683 points.

ATRL (up 5%), ENGRO (2.94%), POL (1.77%), and LUCK (1.28%) were the major leaders of the market that contributed 101 points cumulatively to the index.

Volumes improved in yesterday’s trading session as 217 million shares were traded in the overall market, compared to 174 million shares in the previous trading session, depicting a DoD increase of 25%. While the traded value remained same at Rs9.6b/$91m. Shares of total 390 active companies traded in the session of which 232 concluded in advance, 130 in decline while 28 remained unchanged.