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PSX closes bearish on last day of 2018

PSX closes bearish on last day of 2018

KARACHI: The Pakistan Stock Exchange (PSX) on Monday remained bearish as the benchmark 100-index shed 100.35 points to settle at 37,066.67 on the last day of year 2018.

The KSE 100 index benchmark touched its intraday low of 36,802.40 after losing 364.62 points. The index then recovered a little and reached its day’s high of 37,206.17. The KMI 30 index was down by 269.92 points at ended at 61,173.56, while KSE All Share index closed slightly positive at 28,043.38 (up by 42.08 points). Out of the total traded scripts, 139 advanced and 160 declined, while 25 remained unchanged.

The overall trading volumes were recorded at 226.06 million. Silk Bank Limited (SILK +10.62pc) topped the volume chart with 23.10 million traded shares. Next in line were K-Electric Limited (KEL +0.34pc) and Sui Southern Gas Company Limited (SSGC +0.92pc). The scripts had traded 18.59 million and 15.29 million shares respectively.

Top gainers of the day included the closed-end mutual fund sector (+7.15pc), miscellaneous sector (+2.93pc), paper and board sector (+2.56pc), automobile parts and accessories sector (+1.90pc) and pharmaceutical sector (+1.77pc). On the other hand, vanaspati and allied industries sector (-4.54pc), cement sector (-1.89pc) and jute sector (-1.70pc) were among the major losers.

Noon Sugar Mills Limited (NONS -4.99pc) nearly touched its lower-lock after the company announced its financial results for the year ending 30th September 2018. A final cash dividend of Rs2.60 was declared by the company. Sales surged up by 3opc YoY, while earning per share improved from Rs8.73 in FY17 to Rs12.76 in the current year.