PSX rebounds as KSE-100 gains 1719 points

KARACHI: The Pakistan Stock Exchange (PSX) witnessed a positive turnaround following three consecutive negative sessions on Thursday, ARY News reported.

The PSX closed on a positive note as the benchmark KSE-100 index gained 1,719 points, a positive change of 1.54 percent, closing at 113,206.40 points as compared to 111,487.36 points on the last trading day.

Analysts at Topline Securities said that the uptick was primarily fuelled by strong performances from MARI, BAHL, LUCK, PSO, and HUBC, which together added 923 points to the index.

“Overall market activity remained strong, with 483 million shares traded and a total turnover of Rs. 26 billion. SSGC led the volume charts, with 48 million shares changing hands” they added.

A total of 483 million shares were traded during the day as compared to 449 million shares the previous trading day, whereas the price of shares stood at Rs26.103 billion against Rs28.186 billion on the last trading day.

As many as 441 companies transacted their shares in the stock market, 272 of them recorded gains and 118 sustained losses, whereas the share price of 51 companies remained unchanged.

The three top trading companies were Sui South Gas with 48 million shares at Rs39.11 per share, Waves Home Appliances with 33 million shares at Rs12.78 per share and Bank Makramah with 31 million shares at Rs3.71 per share.

Unilever Pakistan Foods Limited witnessed a maximum increase of Rs286.49 per share closing at Rs22,387 whereas runner-up was Rafhan Maize Products Company Limited with Rs98.05 rise in its share price to close at Rs9,498.

Al-Abbas Sugar Mills Limited witnessed a maximum decrease of Rs35.19 per share price, closing at Rs679.22, whereas the runner-up was Excide Pakistan Limited with Rs28.84 decline in its per share price to Rs781.