PSX closes red despite late recovery
The Pakistan Stock Exchange (PSX) continued trading in the red on Thursday, with the benchmark KSE-100 Index losing 91 points to close at 45,388.
The index touched the day's high of 45,492 at the start of trading, but traded in the negative for the most part of the day, slumping to a low of 45,123 at one point.
"Despite a positive trigger in the shape of sharp overnight rise in global crude, exploration and production companies failed to lend support to the market in the morning as other sectors dragged the benchmark KSE100 Index down to a 15-day low," a note from Elixir Securities read.
Trading was up to 183.4 million shares worth Rs8.5 billion. Of the 368 scrips traded, 100 advanced, 248 declined and 20 remained unchanged.
The chemical sector dominated trading with 28.9m shares traded, while commercial banking and cement followed with 26.2m and 23.1m shares traded.
Volumes were led by:
Engro Polymer and Chemicals Ltd: 15.2m shares traded [-1.11pc];
Bank Of Punjab: 13.6m shares traded [+2.41pc];
Fauji Cement Co Ltd: 13.3m shares traded [-4.77pc];
K-Electric Limited: 12.1m shares traded [-1.43pc];
Unity Foods Limited: 9.9m shares traded [-0.49pc].