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PSX manages to close positive after seeing volatile day

PSX manages to close positive after seeing volatile day

KARACHI: The Pakistan Stock Exchange (PSX) Friday remained under pressure, however, closed positive as the benchmark KSE-100 index gained 31.09 points to take the tally to 40844.40.

The stocks recorded the highest trading level of 40910.17 points and lowest level of 40637.15 points, with the volume of 115.62 million shares and value of Rs5.49 billion. As many as 346 companies were active; of which 170 advanced, 152 declined and 24 remained unchanged.

TRG Pak Ltd was the volume leader with 15.97 million shares, adding Rs1.75 to reach Rs36.79. It was followed by Azgard Nine with 12.65 million shares, gaining Rs0.54 to end at Rs15.66 and WorldCall Telecom with 9.97 million shares, dropping Rs0.01 to close at Rs2.73.

The top three gainers were Philip Morris Pak with price per share of 2878.57 (137.07), Sapphire Tex with price per share of 1795 (80.28) and Pak Tobacco of 1377.60 (65.60).

The top three losers were Colgate Palmolive with price per share of 2310 (-120), Shezan Inter with price per share of 475.01 (-24.99) and Abbott Lab share of 705 (-18).

Earlier, the Pakistan Stock Exchange opened slightly positive and gained 20 points to reach 40834 level and became bearish till midday after shedding 80 points to drop to 40735 level.

On Thursday, the stocks witnessed yet another day of lackluster activity, with the 100-index crawling up by 150 points and closing at 40,813 points.

Top index point performers were HBL (up 1.3%), POL (1.4%), ENGRO (1.4%), PPL (1.1%) & PAKT (5%), contributing 111 points to the index, while IGIIL (down 4.8%), KAPCO (1.2%), SNGP (0.7%), FCCL (1.5%) & MARI (0.6%) withheld 31 points from the index.

Volumes remained subdued, reflecting little change from the previous day as 97m shares changed hands during the day. On the sector front; commercial banks contributed 69 points, E&P staged recovery on back of slight uptick in WTI prices to add 46 points, while on the flip side power, insurance, and OMCs cumulatively eroded 25points.