PSX Settles Below All-Time High After Closing in Red

The 100-Index of the Pakistan Stock Exchange (PSX) turned around to bearish trend on Friday, losing 327.60 points, a negative change of 0.28 percent, closing at 118,442.18 points as compared to 118,769.77 points on the last trading day. Topline Securities highlighted that range bound activity was observed today as index traded between its intraday high of +636 points and intraday low of -435 points to close at 118,442 level. Top positive contribution to the index came from SYS, NML, ILP, MTL and SNGP, as they cumulatively contributed 222 points to the index, on the other hand FFC, HUBC, LUCK, MARI and UBL lost value to weigh down on the index by 344 points, the brokerage house pointed out. Traded value wise MARI (Rs. 2.57 billion), PSO (Rs. 2.01 billion), SNGP (Rs. 936 million), OGDC (Rs.726 million) and ATRL (Rs. 631 million) dominated the trading activity. A total of 369,119,112 shares were traded during the day as compared to 667,875,803 shares the previous trading day, whereas the price of shares stood at Rs. 23.273 billion against Rs. 38.525 billion on the last trading day. As many as 435 companies transacted their shares in the stock market, 193 of them recorded gains and 190 sustained losses, whereas the share price of 52 companies remained unchanged.