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PSX Returns to Bullish Ways Amid Dull Trade--Dec 26
 

The Pakistan Stock Exchange (PSX) started the penultimate week of the year of 2016 on a bullish note on Monday but the overall trading activities remained on the lackluster side amid lack of interest by the foreign investors amid the Christmas festivities across the world.

The Pakistan Stock Exchange's benchmark KSE 100-Index gained 0.12 percent or 55.74 points to 46,689.73 points on Monday when compared with 46,633.99 points posted on Friday.

The KSE All-Share Index increased by 0.28 percent or 90.14 points to 31,918.97 points, the KSE 30-Index jacked up by 0.14 percent or 35.51 points to 25,187.25 points, the KMI 30-Index augmented by 0.24 percent or 189.38 points to 79,873.58 points, whereas the Islamic All-Share Index closed higher by 0.29 percent or 64.80 points to 22,166 points.

During Monday's trading session, the main index traveled in a remote range of 283.62 points as it touched an intraday high of 46,898.66 points as against an intraday low of 46,615.04 points.

Hub Power Company (HUBC) contributed 29 points to the overall gain in the key index. Similarly, a renewed interest in the auto sector was reported which led Honda Atlas Car and Pak-Suzuki Motor Company to close higher by 5 percent and 2.4 percent, respectively.

Banking stocks slid due to profit-taking as MCB Bank (MCB), Habib Bank Limited (HBL), and United Bank Limited (UBL) declined in the range of 0.2 percent to 0.9 percent.

Market volumes trimmed down by 21.67 percent or 49.708 million shares to 179.672 million shares on Monday when compared with 229.381 million shares posted on Friday.

Market capitalization improved by 0.28 percent or 26.426 billion rupees (251.684 million U.S. dollars) to 9.357 trillion rupees (89.121 billion U.S. dollars) whereas trade value shrank by 14.62 percent or 1.539 billion rupees (14.662 million U.S. dollars) to 8.988 billion rupees (85.603 million U.S. dollars).

Among 385 active scrips on Monday, prices of 190 issues advanced, 177 depleted, whereas values of 18 other companies stayed unchanged at previous week's levels.

TRG Pakistan Limited, Engro Polymer, and Karachi Electric Limited were the top traded companies with turnovers of 18.79 million shares, 13.62 million shares, and 11.14 million shares, respectively.

Wyeth Pakistan Limited was the top price gainer with an increment of 163.66 rupees (1.56 U.S. dollars) to 4,717.20 rupees (44.93 U.S. dollars) while on the other hand, Bata Pakistan led the major price shedders with a decrement of 81.79 rupees (77.90 U.S. cents) to 4,700 rupees (44.76 U.S. dollars).


(www.chinaview.cn 2016-12-27)
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