KSE-100 gains 72 points in volatile session

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KARACHI: Investors of the Pakistan Stock Exchange (PSX) witnessed another jittery session on Thursday, with the indices changing positions before helping the benchmark KSE-100 Index end in green.

Foreign investors ended as net buyers on Wednesday with a net inflow of $2.21 million.

The benchmark KSE-100 Index slipped to its intraday low at 42,805.73 after losing 187.30 points. It then managed to recover some losses and touched its days high at 43,205.26 (+212.23 points). The index settled higher by 72.07 points at 43,065.10. The KMI-30 index, on the other hand, lost 40.47 points to close at 70,103.89, whereas the KSE All Share Index inched up by 21.68 points, ending at 29,914.47. Out of the total traded shares, 187 advanced and 125 declined.

The overall market volumes increased from 171.13 million to 229.86 million. Shares worth Rs6.55 billion were traded on Thursday. The Bank of Punjab (BOP +4.67pc), Worldcall Telecom (WTL -2.99pc) and TRG Pakistan Limited (TRG -0.35pc) remained the volume leaders of the day, exchanging 60.41 million, 11.67 million and 9.09 million shares, respectively.

Sectors that helped keep the index from the negative zone included banking (+62.80 points), textile composite (+20.53 points) and cement (+12.55 points). Among the companies, Fauji Fertilizer Company Limited (FFC +17.45 points), Meezan Bank Limited (MEBL +16.68 points) and MCB Bank Limited (MCB +16.53 points) added maximum points to the index.

The refinery sector gained +1.21pc in its cumulative market capitalization. Byco Petroleum Pakistan Limited (BYCO +2.00pc), Attock Refinery Limited (ATRL +0.56pc) and National Refinery Limited (NRL +0.20) closed in the green zone.

Meanwhile, the Board of Directors (BoD) of Ghani Automobile Industries Limited (GAIL +15.07pc), in a notification to the exchange, announced that it has considered the proposed merger within and into Ghani Value Glass Limited (GVGL +4.59pc).

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