KARACHI: The Pakistan Stock Exchange (PSX) Friday started day on bullish note and added 410 points to take the tally to 40878 points level in early trading.
On Thursday, the stocks witnessed a partial recovery where value investors took the opportunity to buy stocks at attractive prices. The benchmark KSE 100-index made an intra-day high of 358 points; however recovery didn’t last long as the index fell to make an intra-day low of 425 points and closed up 7 points at 40,468 points.
Market movement was led by fertilizer with 32 points, textile composite with 18 points, automobile assembler with 16 points, commercial banks with 15 points and cement with 13 points. However, oil & gas marketing companies steered negativity at the bourse, shedding 33 points while pharmaceuticals and engineering sectors wiped away 22 and 16 points from the index, respectively.
Top positive contributing scrips were DGKC with 21 points, ENGRO with 20 points, PPL with 16 points, NML with 15 points and MCB with 14 points. While scrips that topped the laggards list included SNGP that shed 27 points, SEARL that eroded 17 points and HUBC that took away 14 points. Market was unable to sustain activity as average daily volumes went down by 22% DoD to 150m shares; similarly average traded value settled at Rs8.7b/USD78m, down by 15% DoD.
