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PSX crosses 47,000 mark after adding 135pts

PSX crosses 47,000 mark after adding 135pts

KARACHI: The Pakistan Stock Exchange Thursday continued its upward journey and crossed 47,000 mark after gaining 135.30 points to take the tally to 47084.34 points level at closing.

The stocks recorded the highest trading level of 47167.63 points and lowest level of 46857.45 points, with the volume of about 455.27 million shares and value of Rs16.15 billion. As many as 388 companies were active; of which 234 advanced, 137 declined and 17 remained unchanged.

K-Electric Ltd was the volume leader with 44.66 million shares, adding Rs0.53 to reach Rs7.46. It was followed by BoP with 43.23 million shares, gaining Rs0.55 to end at Rs11.91 and Azgard Nine with 33.93 million shares, adding Re1 to close at Rs15.93.

The top three gainers were Bata (Pak) with price per share of 3199 (98.99), Murree Brewery with price per share of 775 (27) and Archroma Pak of 750 (23.59).

The top three losers were Philip Morris Pak with price per share of 2649.08 (-139.42), Pak Tobacco with price per share of 1610.25 (-84.75) and Khyber Tobacco share of 823.11 (-42.89).

Earlier, the PSX opened bullish and gained 106 points to cross 47,000 level and reached 47055 points level in early trading. The stocks dropped most of the early gains even 47,000 mark till midday as the benchmark added 37.29 points to reach 46986.33 points level.

On Wednesday, the stocks sustained its bullish momentum at the 100-share index gained 416 points and closed at 46,949 points.

ASL (up 5%), ISL (3.89%) and ASTL (1.55%) were the major gainers from the steel sector. OGDC (down 0.57%), POL (0.25%) and PPL (0.82%) from the E&P sector shed points as international oil prices decreased on account of increasing US oil inventory and high OPEC production. HBL (up 2.94%), MCB (1.60%) and UBL (1.33%) from the commercial banking sector cumulatively contributed 150 points to the index. Volumes stood at 368 million shares as compared to 256 million in the last trading session. While traded value stood at Rs16.8b/$160m.