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Roundup: Lackluster PSX reverts to bullish ways

Xinhua, June 23, 2016 Adjust font size:

The Pakistan Stock Exchange (PSX) returned to bullish ways in dull trade on Thursday as investors cashed in on the buying opportunity after a three-day bearish trail that ejected over 600 points out of the key index.

The Pakistan Stock Exchange's benchmark KSE 100-Index gained 0.23 percent or 88.63 points to 38,237.89 points on Thursday when compared with 38,149.26 points recorded on Wednesday. During the three-day bearish run, the main index lost 627.68 points.

The KSE All-Share Index moved up slightly by 0.06 percent or 14.83 points to 25,438.69 points, the KSE 30-Index increased by 0.37 percent or 80.29 points to 21,935.56 points, the KMI 30-Index surged by 0.13 percent or 83.12 points to 66,539.74 points, whereas the Islamic All-Share Index declined by 0.22 percent or 39.50 points to 17,757.33 points.

During Thursday's trading session, the top Pakistani bourse posted lackluster trade as the main index traveled in a remote range of 250.92 points with the main index hitting an intraday high of 38,265.44 points as against an intraday trough of 38,014.52 points.

Banking stocks like Habib Bank Limited (HBL), United Bank Limited (UBL), and MCB Bank (MCB) were in demand as they finished up in the range of 0.2 percent to 2.3 percent.

Market volumes depleted by 8.50 percent or 10.551 million shares to 113.658 million shares on Thursday when compared with 124.21 million shares witnessed on Wednesday.

Market capitalization improved by 0.06 percent or 4.447 billion rupees (43.6 million U.S. dollars) to 7.626 trillion rupees (74.765 billion dollars) whereas trade value trimmed down by 13.07 percent or 993.419 million rupees (9.739 million dollars) to 6.604 billion rupees (64.752 million dollars).

Among 321 active scrips on Thursday, prices of 152 issues advanced, 143 fell, whereas values of 26 other companies faced a stalemate.

Karachi Electric Limited (KEL), Dewan Cement Limited (DCL), and Engro Fertilizers (EFERT) were the top traded companies with turnovers of 12.752 million shares, 9.873 million shares, and 5.944 million shares, respectively.

Siemens Pakistan was the top price gainer with an increment of 27.73 rupees (27.18 cents) to 917.73 rupees (8.99 dollars) while on the other hand, Nestle Pakistan XD led the major price losers with a decrement of 245 rupees (2.40 dollars) to 7,300 rupees (71.57 dollars). Endit