PSX rebounds, gains over 574 points

ISLAMABAD The benchmark KSE-100 Index of the Pakistan Stock Exchange (PSX) staged a strong recovery on Friday, gaining 574.76 points, a positive change of 0.33 percent, to close at 177,166.52 points against 176,591.77 points recorded in the previous trading session. The ready market witnessed a trading volume of 689.166 million shares, compared to 665.194 million shares traded in the previous session, while the traded value increased to Rs35.657 billion from Rs30.792 billion. Market capitalisation increased to Rs19.883 trillion from Rs19.787 trillion recorded a day earlier. Out of 493 companies that traded in the ready market, 246 posted gains, 216 suffered losses, while 31 remained unchanged, reflecting a mixed trend with a positive bias. Cnergyico PK led the volume chart with 250.242 million shares, followed by Pak Refinery with 30.856 million shares and K-Electric Limited with 27.104 million shares. Among the top gainers, Unilever Pakistan Foods Limited surged by Rs62.80 to close at Rs25,222.80, while Sapphire Fibres Limited advanced by Rs60.34 to settle at Rs1,113.36. On the losing side, PIA Holding Company LimitedB declined by Rs497.00 to close at Rs17,300.00, while Hoechst Pakistan Limited fell by Rs147.07 to Rs4,002.97. In the futures (DFC) market, turnover stood at 222.389 million shares with a traded value of Rs10.832 billion, compared with 146.304 million shares worth Rs8.308 billion in the previous session. Of the 308 companies traded in the DFC market, 130 advanced, 170 declined, and eight remained unchanged.