PSX rebounds, gains 779 points

ISLAMABAD - The benchmark KSE 100-index of the Pakistan Stock Exchange (PSX) reversed its bearish momentum on Wednesday, gaining 779.34 points, a positive change of 0.47 percent, to close at 165,930.99 points against 165,151.64 points recorded in the previous trading session. The ready market witnessed a trading volume of 379.905 million shares compared to 446.842 million shares traded in the previous session, while the traded value increased to Rs21.281 billion from Rs19.426 billion. Market capitalisation rose to Rs18.384 trillion from Rs18.308 trillion recorded a day earlier. Out of 497 companies that traded in the ready market, 225 posted gains, 230 suffered losses, while 42 remained unchanged. Pak Refinery led the volume chart with 49.411 million shares, followed by Cnergyico PK with 40.074 million shares and Pervez Ahmed Co with 21.682 million shares. LHC Chief Justice Aalia Neelum inaugurates Judicial Complex in Alipur Among the top gainers, Unilever Pakistan Foods Limited surged by Rs2,535.18 to close at Rs27,886.93, while PIA Holding Company Limited B advanced by Rs620.82 to settle at Rs14,265.33. On the losing side, Pakistan Engineering Company Limited declined by Rs69.66 to close at Rs742.24, while Hoechst Pakistan Limited fell by Rs67.02 to Rs3,989.89. In the futures (DFC) market, turnover stood at 120.731 million shares with a traded value of Rs9.783 billion, compared with 114.925 million shares worth Rs7.801 billion in the previous session. Of 296 companies traded in the DFC market, 150 advanced, 137 declined and 09 remained unchanged. Pakistan, Saudi Arabia vow to strengthen bilateral ties