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PSX recoups 173pts to close at 38,236

PSX recoups 173pts to close at 38,236

KARACHI: The Pakistan Stock Exchange (PSX) on Thursday remained positive after adding 173.37 points to close at 38,236.52

Indices moved uphill as soon as the session began, but changed their path a few hours later and turned red. The indices then recovered their losses and continued to move north, finally ending the day on a positive note.

The KSE 100 index dropped by 48.66 points a while after the start of the session to reach its lowest level of the day. It then recovered its losses and touched its intraday high of 38,379.69 (up by 316.54 points) and finally closed at 38,236.52 after gathering 173.37 points. The KMI 30 index appreciated by 681.33 points and ended at 64,529.03, while KSE All Share index gained 259.16 points to settle at 28,362.94.

Market volumes improved by 35pc from the last session and were recorded at 136.69 million. Pakistan Telecommunication Company Limited (PTC -2.83pc) led the volume chart with 11.84 million shares exchanging hands, followed by Pak Elektron Limited (PAEL +5.00pc) with 8.42 million traded shares. Next in line was K-Electric Limited (KEL +0.67pc), maintaining its position among top traded scripts with 8.36 million shares exchanging hands.

Top gainers of the day included the woolen sector (+4.72pc), tobacco sector (+3.58pc), cable and electrical goods sector (+2.74pc), chemical sector (+1.96pc) and textile weaving sector (+1.88pc). On the other hand, jute sector (-1.70pc), modaraba sector (-1.14pc) and close-end mutual fund sector (-0.74pc) ended on losing side.