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Home Markets

PSX closes negative on profit-taking

byMatiur Rehman
05/04/2016
in Markets, Stock Exchange
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KARACHI: Started with the positive note, the Pakistan Stock Exchange (PSX) closed negative over profit-taking as benchmark 100-inded shed 41.93 points to drop to 33766.49 points level on Tuesday.

The stocks recorded the highest trading level of 33951.41 points and lowest level of 33713.84points, with the volume of 328 million shares, having about Rs14 billion value. As many as 363 companies were active; of which 148 advanced, 186 declined and 29 remained unchanged.

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Technology & communication was the top traded sector with 46,641,500 volume, while power generation & distribution remained second with 11,775,600 volume.

The three top traded companies were K-Electric Ltd with a volume of 34,502,000 and price per share of 7.44 (0.23), TRG Pak Ltd with a volume 22,053,500 of price per share of 31.95 (0.61), PTCL with a volume 20,059,500 of price per share of 16.34 (0.98).

The top three gainers were Rafhan Maize XD with price per share 8085 (385), Nestle Pak with price per share of 7600 (261) and Bhanero Tex price per share of 625.63 (25.68).

The top three losers were Philip Morris Pak with price per share of 1700 (-83.33), Siemens Pak with price per share of 762.23 (-37.77) and Island Textile per share of 700 (-30).

Earlier, despite shedding some early gains, the PSX)remained in positive zone and added 54 points to reach 33862.51 points level till midday.

On Monday, bull-run continued for the fourth straight session in the PSE. The benchmark KSE 100-index gained 358.80 points to close at 33,808.42 points. Positivity was led by the cement sector. Top performers of the sector were FCCL, which rose by 3.23%, and MLCF that went by 2.29%, brokers said. Stocks in cement sector continued to attract investor attention in anticipation of healthy sales and growth in gross margins. Maple Leaf Cement (MLCF), D.G. Khan Cement (DGKC) and Fauji Cement (FCCL) gained 2.3-3.2%, dealers said.

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