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PSX makes huge recovery with 1113pts

PSX makes huge recovery with 1113pts

KARACHI: The Pakistan Stocks Exchanged (PSX) Tuesday made huge recovery after gaining mammoth 1113.15 points to take the tally to 45636.36 points level at closing.

The stocks recorded the highest trading level of 45669.06 points and lowest level of 44517.06 points, with the volume of about 158 million shares and value of Rs9 billion. As many as 372 companies were active; of which 296 advanced, 66 declined and 10 remained unchanged.

TRG Pak Ltd was the volume leader with 11.25 million shares, adding Rs1.79 to reach Rs37.79. It was followed by K-Electric with 8.90 million shares, gaining Rs0.08 to end at Rs6.69 and Aisha Steel Mill with 7.19 million shares, adding Rs0.59 to close at Rs19.51.

The top three gainers were Philip Morris Pak with price per share of 2645 (125.85), Sanofi-Aventis with price per share of 1767.49 (47.49) and Service Ind. Ltd of 1325 (45).

The top three losers were Bata (Pak) with price per share of 3100 (-73), Colgate Palmolive with price per share of 2300 (-55) and Bhanero Tex share of 855 (-45).

Earlier, the stocks started day on bullish note and added 154 points to reach 44677 points level in early trading. The upward rally continued at the PSX till midday and gained massive 692 points to take the tally to 45215 points level.

Yesterday, the PSX commenced week with lackluster session on political noise as the benchmark shares index, after hitting an intra-day high of 293 points and a low of 362 points, finally closed at 44,523.21 points after gaining 186 points.

First hearing of the JIT report by the SC was held Monday; which clearly spooked investors as traded volume shrunk 33% to 3-year low of 75.3m shares, while traded value contracted 30% to Rs4.2b/$39.8m. Top Index point contributors were BAHL (+4.3%), HUBC (+1.8%), LUCK (+1.5%), UBL (+1.3%) & OGDC (+1.4%); adding 145 points, while HBL (-0.7%), PPL (-1.1%), JLICL (-4%), PMPK (-4.3%) & ENGRO (-0.3%) held back 62 points.

KEL led the volume in the market with 5.7 million shares of the power company being traded throughout the session. Scrips of total 355 active companies traded in the session, of which 177 closed in green, 161 in red while 17 remained unchanged.