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PSX witnesses variation, ends negative

PSX witnesses variation, ends negative

KARACHI: The Pakistan Stock Exchange on Wednesday witnessed variation in trading, enduring a volatile session and landed in red.

Started on negative note, the KSE-100 index remained between green and red zones as investors continued to stay away.

At the end of trading, the benchmark KSE 100-share Index recorded a decrease of just 90.85 points or 0.24% to settle at 38,218.07.

Pakistan Oilfields (-2.32%), Pakistan Petroleum Limited (-1.37%) and Oil and Gas Development Company (-1.55%) closed in the red.

Market activity continued to remain dull but retail names dominated volume charts with K-Electric (+0.17%), Aisha Steel Mills (+3.49%) and Sui Northern Gas Pipelines (+2.52%) recording cumulative trading in 21 million shares.

Overall, trading volumes increased to 88.6 million shares compared with Monday’s tally of 74.7 million. The value of shares traded during the day was Rs3.8 billion.

Shares of 340 companies were traded. At the end of the day, 177 stocks closed higher, 137 declined and 26 remained unchanged.

K-Electric was the volume leader with 12.75 million shares, gaining Rs0.01 to close at Rs6.04. It was followed by Aisha Steel Mills with 4.46 million shares, gaining Rs0.35 to close at Rs10.38 and Sui Northern Gas Pipelines with 4.16 million shares, gaining Rs2 to close at Rs81.29.