KARACHI: The Pakistan Stock Exchange Monday remained positive all the day, but closed almost flat after gaining 20.96 points to reach 39,893.84 points level.
K-Electric (up 2.5%), which was volume leader, gained on the back of Abraaj Group’s announcement that KES Power (Abraaj controlled) had entered into a definitive agreement to divest its 66.4% shareholding in K-Electric to Shanghai Electric Power Company Limited (SEP) for a consideration of $1.77b. PNSC (up 1.8%) continued its post-result momentum, as the shipping company announced that it had decided to introduce ferry service. NETSOL (up 4.8%) also closed up on strong 1QFY17 result announcement. Overall, volumes declined by 27.7% to 237m shares, while value decreased by 31% to Rs7.5b/$72m.
