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PSX loses another 125pts to close at 50742 level

PSX loses another 125pts to close at 50742 level

KARACHI: Opened on positive note, the Pakistan Stock Exchange Friday remained bearish all the day and lost 214.57 points to drop to 50742.03 points level at closing.

The stocks recorded the highest trading level of 51197.27 points and lowest level of 50666.13 points, with the volume of over 345.04 million shares and value of Rs12.49 billion. As many as 404 companies were active; of which 243 advanced, 153 declined and 8 remained unchanged.

Silk Bank Ltd was the volume leader with 24.30 million shares, gaining Rs 0.04 to reach Rs 1.91. It was followed by Summit Bank with 21.45 million shares, adding Rs 0.29 to end at Rs 6.63 and Kohinoor Spining with 16.24 million shares, increasing Rs 0.76 to close at Rs 7.22.

The top three gainers were Exide (PAK) with price per share of 952.35 (45.35), Bhanero Tex with price per share of 882.93 (42.04) and Shield Corp share of 682 (24).

The top three losers were ICI Pakistan with price per share of 1114.61 (-48.70), Colgate Palmolive with price per share of 2200 (-25) and Pak Suzuki share of 797.68 (-21.87).

Earlier, the stocks recouped some previous losses in early trading as it gained 225 points to reach 51183 points level in early trading. The Pakistan Stock Exchange again became bearish till midday as the 100-index shed 15 points to reach 50941.43 points level on Friday.

On Thursday, the PSX the benchmark 100-share index lost another 554.81 points and closed at 50,956.60 points. Market opened on a positive note where the index made an intra-day high of 59 points. This positivity was short lived as heavy selling was witnessed across the board. The index made an intraday low of -636, while it closed at around 50,956 level (down 555 points), brokers said. The shares index lost 1432 points in three consecutive sessions.

WTL was volume leader for the second consecutive day as almost 32m shares of the company exchanged hands. Overall volume declined to 302mnshares as compared to 372m shares of the previous day. Traded value also decreased to Rs12b.