Business Market

PSX reverses gains, closes negative

KARACHI: Trading at the Pakistan Stock Exchange (PSX) closed on a negative note on Thursday, with 45634.02 points and volume of 74,531,590 shares. High and Low were 46213.14 and 45572.11 respectively.
Total volume traded in the market was 219,751,562 shares with 362 total traded shares of companies out of which 84 Companies’ shares were up and 255 Companies’ shares were down and 23 were unchanged.
COMMERCIAL BANKS were the top traded sectors with total traded volume of 21,204,700 shares. It was followed by ENGINEERING with a total traded volume of 17,428,700 shares.
The three top companies were Azgard Nine with a volume of 10,984,000 and price per share of 15.77 (-0.15), Aisha Steel Mill with a volume of 9,589,000 and price per share of 22.44 (-0.60), and B.O.Punjab with a volume of 9,504,500 and price per share of 11.15 (-0.03).
The top three advances were Murree Brewery with price per share 910.05 (33.71), Wyeth Pak Ltd with price per share of 2300.00 (14.00) and Blessed Tex with price per share of 239.78 (11.41).
The top three decliners were Hinopak Motor with price per share of 1315.00 (-35.00), Exide(Pak) XD with price per share of 720.00 (-23.99) and Siemens Pak. with price per share of 800.81 (-18.78).
Earlier, the stocks opened positive and gained 102 points to reach 46,101 points level in early trading.
The steel sector flourished as ASL (up 4.73%), ISL (4.97%), and INIL (4.32%) closed near their upper circuits. KEL too edged up (2.03%) on FY16 earnings announcement, as their earnings improved by 16% YoY to Rs1.19/share. EPQL (up 4.25%) from the power sector also gained on account of above expectation earnings of Rs4.77/share for 1H2017 and DPS of Rs1.75/share.
Traded volumes were down 4% to 214m shares as compared to 206m shares of the previous day, whereas traded value was down 56% to Rs14b/$131m. Total 386 active companies participated in the session of which 243 concluded in green, 130 in red while 13 remained unchanged.