PSX gains slightly after bearish sessions

Observer Report


The Pakistan Stock Exchange (PSX) closed in the green on Thursday following successive bearish sessions, with the benchmark KSE-100 index gaining 151 points to close at 40,813.
The market opened higher and hovered around the 40,800-mark for most of the session, touching a day’s high of 40,886 on the way.
Trading remained low on the market with 96.7 million shares, worth Rs5.02 billion, traded in the session. Of the 336 traded scrips, 149 advanced, 159 declines and 28 remained unchanged.
The textile composite sector dominated trading by a large margin, with over 18.5m shares traded.
Foreign investors and mutual funds were net sellers in the session; however, buying by local insurance and other companies helped the market end on a positive note.
Volumes were led by: Azgard Nine: 13.5m shares traded [+2.23pc]; TRG Pak Ltd: 7.7m shares traded [+1.42pc]; K-Electric Ltd: 5.8m shares traded [-0.37pc]; Sui North Gas: 5.6m shares traded [-0.74pc] and Sui South Gas: 4.3m shares traded [+2.90pc]

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