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PSX drops 77pts to close at 42666.23 points level

PSX drops 77pts to close at 42666.23 points level

KARACHI: The Pakistan Stock Exchange (PSX) Tuesday closed bearish after shedding 77.42 points to drop to 42666.23 points level.

The stocks recorded the highest trading level of 42957.71 points and lowest level of 42599.64 points, with the volume of 145 million shares and value of Rs7.28 billion. As many as 357 companies were active; of which 124 advanced, 212 declined and 21 remained unchanged.

K-Electric Ltd was the volume leader with 33.80 million shares, adding Rs0.58 to reach Rs6.89. It was followed by Dolmen City with 8.207 million shares, adding Rs0.09 to end at Rs11 and Maple Leaf with 6 million shares, shedding Rs1.08 to close at Rs87.38.

The top three gainers were Unilever Foods with price per share of 6550 (100), Khyber Tobacco with price per share of 777 (37) and Archroma Pak of 658.25 (19.62).

The top three losers were Wyeth Pak Ltd with price per share of 2080.50 (-109.50), Murree Brewery with price per share of 727 (-31.32) and Atlas Battery share of 712.12 (-21.88).

Earlier, the PSX opened bullish after gaining 211 points to take the tally to 42954 points level in early trading. The stocks again shed the early gains and became flat after shedding 3.48 points to reach 42740 points level till midday.

On Monday, the stocks witnessed a lacklustre session and the 100-share index, after making an intra-day high of 337 points and intra-day low of 122 points, closed at 42,744 points after shedding 6 points.

Top 5 index point decliners were NBP (down 5%), UBL (1.5%), MCB (0.9%), SNGP (1.6%) & CHCC (3.7%), shedding 97 points, while FFC (up 5%), EFERT (3.9%), DAWH (2%), OGDC (0.6%) & BAFL (2.3%) added 122 points.

On the sector front, fertilizer added 108 points due to rising international prices which are up another 16%/$40 WoW to $290/ton (Middle East Urea). On the flip side, banks shed 69 points (NBP 29 points, UBL 28 points & MCB 15 points). OMCs were down 20 points while cements withheld 17 points.

Market volumes also remained low as total volume for the all-share index touched 126m shares, 4.4% down from the last trading day. Traded value stood at Rs7b/$84m.