Stock market recovers losses

KARACHI: The Karachi stock market on Thursday witnessed bullish trend as Karachi Stock Exchange (KSE) benchmark 100-index closed higher by 180.99 points or 0.64% and recovered the psychological barrier of 28500 points after bearish trend in the market for three consecutive trading days.

The KSE-100 index closed on 28511.02 points against 28330.03 points recorded in the last session. The higher index of the day was recorded at 28530.44 points while the lowest index level was stood at 28286.06 points.

In total, 346 companies were active in which 191 closed in green, 129 in red and 26 remained neutral.

Though the index increased, the turnover dropped by 1.3 million shares to 132,849,900 against 134,129380 shares recorded in the last session. Trading value rose by Rs 60 million to Rs 6.185 billion against Rs 6.123 billion on previous trading day. Market capital recoded Rs 6.821 trillion against Rs 6.778 trillion on Wednesday.

Companies reflected significant turnover were Byco Petroleum, K-Electric Ltd., PTCL AXD, TRG Pakistan Ltd, Avanceon LtdXDXB, National Bank, Bank Al-Falah, Summit Bank, BO Punjab and Lafarge Pak XD.

Rafhan Maize SPOT was the top gainer with an increase of Rs 250 in per shares rate while Phillip Morris Pak share rate increased by Rs 38.79 to Rs 814.76.

Unilever was the top loser with Rs 398.99 dipped in per share rate while Hinopak Motor share lost Rs 20.98.

KSE-30 index recovered 157.46 points or 0.80% and closed at 19921.54 points against 19764.08 points recorded in the last session. KSE all shares index closed at 45505 points after recovered 147.38 points.

The post Stock market recovers losses appeared first on Pakistan Press International.

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