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PSX makes another recover of 373pts

PSX makes another recover of 373pts

KARACHI: The Pakistan Stock Exchange (PSX) Thursday bounced back in the last session with 373.45 points to reach 42683.57 points level at closing.

The stocks recorded the highest trading level of 42732.51 points and lowest level of 42171.26 points, with the volume of over 217.12 million shares and value of Rs9.61 billion. As many as 358 companies were active; of which 209 advanced, 123 declined and 26 remained unchanged.

WorldCall Telecom was the volume leader with 48 million shares, adding Rs0.58 to reach Rs3.48. It was followed by Azgard Nine with 22.94 million shares, gaining Rs0.29 to end at Rs13.68 and Aisha Steel Mill with 12.78 million shares, adding Rs0.37 to close at Rs19.66.

The top three gainers were Nestle Pakistan with price per share of 12477.33 (177.33), Wyeth Pak Ltd with price per share of 2200 (72.68) and Bhanero Tex of 807.87 (38.46).

The top three losers were Unilever Foods with price per share of 6400 (-100), Island Textile with price per share of 937.49 (-49.34) and Service Ind.Ltd share of 900.23 (-19.77).

Earlier, the stocks opened bearish and lost 138 points to reach 42172 points level in early trading. The PSX became flat till midday after adding just 23 point to 42333 points level.

On Wednesday, the stocks witnessed bullish activity on institutional interest in scrips across the board as benchmark KSE 100-index recovered over 1000 points. Bulls ruled the local bourse yesterday, taking the KSE 100-index up by 1,031 points. The index closed at 42,310 points. Banking, cement and E&P sectors led the optimism.

Increase in shares prices of heavy weight stocks including HBL (up 4.42%), OGDC (4.83%), UBL (2.90%), PSO (3.86%) and ENGRO (4.51%) brought bulls back to the PSX.

Top 10 index point contributors were HBL (up 4.5%), OGDC (5%), ENGRO (4.5%), UBL (3%), PPL (2.4%), PSO (3.9%), POL (3.9%), LUCK (2.5%), SNGP (3.5%) & MARI (5%); adding 557 points to the upside.

Volumes also increased to 174 million shares, up 74% DoD, with ANL (-1.62%) being the volume leader that contributed 13% to the total volumes. While traded value increased to Rs9.6b/$92m.