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PSX manages to close positive amid lacklustre trading

PSX manages to close positive amid lacklustre trading

KARACHI: The Pakistan Stock Exchange on Monday witnessed a see-saw session amid lacklustre trading and added 58 points to close at 38308.92.

The KSE-100 index opened down and continued its descent as investors remained on the sidelines. Later, buying at attractive valuations helped the index recover the lost ground, pushing it past 38,300.

Developments on the political front, regarding former prime minister Nawaz Sharif’s conviction in the Al-Azizia case, failed to have any major impact.

At the end of trading, the benchmark KSE 100-share Index recorded an increase of just 57.88 points or 0.15% to settle at 38,308.92.

Overall, trading volumes decreased to 74.7 million shares compared with Friday’s tally of 130.4 million. The value of shares traded during the day was Rs3.4 billion.

Shares of 330 companies were traded. At the end of the day, 133 stocks closed higher, 165 declined and 32 remained unchanged.

Fatima Fertilizer was the volume leader with 10.1 million shares, gaining Rs0.90 to close at Rs35.05. It was followed by K-Electric with 6.4 million shares, gaining Rs0.01 to close at Rs6.03 and Pak Elektron with 5.5 million shares, gaining Rs0.25 to close at Rs27.25.