PSE closes week on negative note

Staff Reporter

Karachi

The Pakistan Stock Exchange (PSX) closed the week on a negative note, with the benchmark KSE-100 Index losing 265 points to close at 44,551.
The market hit a day’s high of 44,826 points, up only 9 points from the yesterday’s closing, during the first few minutes before adopting a negative trend. The benchmark index subsequently hit a day’s low of 44,196 points before recovering ahead of the midday recess.
In all, 270.7 million shares worth Rs9.17 billion were traded in the session. Of the total of 351 traded scrips, 146 advanced, 175 declined and 30 remained unchanged.
The power generation and distribution sector dominated trading with 41.3m shares traded; cement and chemical scrips followed with 37.0m and 30.9m shares traded respectively.
Volumes were led by: – K-Electric Ltd: 39.2m shares traded [+1.62pc]; B.O.Punjab: 19.4m shares traded [+0.91pc]; Azgard Nine: 19.2m shares traded [+3.20pc]; Dewan Cement: 19.2m shares [-4.99pc] and Lotte Chemical: 15.9m shares traded [+0.86pc].

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