Pakistan Stock Exchange up by 170 points
Ending the week on a positive note, the Pakistan Stock Exchange had a profitable session on Friday as the KSE-100 Index closed at 42,504.76 after gaining 170 points.
On Thursday, the share market had returned to the positive territory as the KSE-100 Index gained 52.48 point, closing at 42,334.76.
It means the market as a whole was down by 25.91 points during this week as it managed to reduce the losses in the last two sessions. However, it can’t be said yet whether this stagnation shows lack of confidence among investors or a product of correction as the market has been moving in upward trajectory for the two-and-half months.
The Pakistan Stock Exchange has moved up by 1,393.83 points so far this month following the significant gains made in July and August.
A total of 331,721,308 shares were traded on Friday. With the shares of 366 companies traded, the value of 180 entities was down and of 163 made gains. No change recorded in the case remaining 23.
During the session, the KSE-100 Index initially shed around 100 points but later recovered, even reaching the level of 42,554.84 at one point.
However, the share prices of five out of the top 10 most active stocks was down –barring the first four and ninth ranked companies.
The top three active stocks on Friday were: Pakistan International Bulk Terminal Limited 75,507,500 shares, Unity Foods Limited 45,277,000 shares and Fauji Foods Limited 38,861,500 shares.
When it comes to the top gainers, the share price of Modaraba Al-Mali was up by 20 percent followed by Grays Leasing Limited 17.33 percent and Unicap Modaraba 11.83 percent.
On the other hand, the share price of Khurshid Spinning Mills Limited by 11.29 percent, of Kohinoor Industries Limited by 8.74 percent and Olympia Mills Limited by 8.26 percent.
Meanwhile, the cement and chemical were again among the worst-performing sectors while the commercial banks, leasing companies and modarabas as a whole had a profitable run.