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PSX consolidates, hits fresh all-time peak

Xinhua, May 10, 2016 Adjust font size:

The Pakistan Stock Exchange (PSX) further consolidated the rally in fifth straight bullish session on Tuesday as investors remained on buying counters on hopes of PSX's inclusion in the MSCI, which took the main index to fresh all-time historic peak.

The Pakistan Stock Exchange's benchmark KSE 100-Index gained 0.08 percent or 30.13 points to 36,265.12 points on Tuesday when compared with 36,234.99 points reported on Monday.

The KSE All Share Index inched up marginally by 0.01 percent or 3.67 points to 24,750.49 points, the KSE 30-Index slipped 0.05 percent or 10.43 points to 21,291.91 points, the KMI 30-Index jumped by 0.39 percent or 243.74 points to 63,328.44 points, whereas the Islamic All Share Index swelled by 0.17 percent or 28.07 points to 16,769.20 points.

During Tuesday's trading session, the main index travelled in a meager zone of 303.45 points as it touched a brand new all-time intraday high of 36,340.47 points as against an intraday low of 36,037.02 points.

Some profit-taking was observed in banking stocks which led MCB Bank (MCB), United Bank Limited (UBL) and Habib Bank Limited (HBL) to finish lower in the range of 0.1 percent and 1.9 percent.

Market volumes improved by 3.09 percent or 8.446 million shares to 281.467 million shares on Tuesday when compared with 273.02 million shares posted on Monday.

Market capitalization reduced by 0.03 percent or 2.273 billion rupees (22.293 million U.S. dollars) to 7.439 trillion rupees (72.937 billion dollars) whereas trade value dipped 7.36 percent or 944.542 million rupees (9.26 million dollars) to 11.896 billion rupees (116.627 million dollars).

Among 371 active scrips on Tuesday, prices of 183 issues advanced, 165 declined, whereas values of 23 other companies stayed unchanged.

Dewan Cement, Dewan Farooque Motors Limited, and Sui Northern Gas Pipelines Limited were the top traded companies with turnovers of 59.567 million shares, 29.046 million shares, and 18.549 million shares, respectively.

Wyeth Pakistan Limited was the top price gained with increment of 50 rupees (49.01 cents) to 1,950 rupees (19.11 dollars) while on the other hand Unilever Foods XD led the major price shedders with decrement of 275 rupees (2.69 dollars) to 5,225 rupees (51.22 dollars). Endit