Pakistan Stocks Exchange (PSX) gains 242 points on Thursday

Pakistan Stocks Exchange (PSX) gains 242 points on Thursday

KARACHI: Pakistan stock exchange (PSX) gained 0.51 percent on Thursday to a new record high as institutional investors accumulated stocks ahead of year-end result announcement season on strong valuations.

The KSE-100 shares index gained 242.03 points or 0.51 percent to close at 47,666.66 points. KSE-30 shares index gained 105.93 points or 0.41 percent to end at 25,771.81 points. As many as 427 scrips were active of which 282 advanced, 130 declined and 15 remained unchanged.

The ready market volumes stood at 390.854 million as compared to 273.091 million shares a day earlier.

Companies posting highest gains include Unilever Foods, up Rs282 to close at Rs5932/share and Sonofi Aventis, up Rs129.54 to close at Rs2720.41/share.

Companies posting major losses include Bata Pakistan, down Rs230 to end at Rs4470/share and Nestle Pakistan, down Rs145.71 to end at Rs9000/share.

Highest volumes were witnessed in Dost Steels Limited with a turnover of 40.103 million shares. The scrip gained 99 paisas to close at Rs11.52/share. Bank of Punjab was second with a turnover of 35.027 million shares. It gained 84 paisas to end at Rs18.40/share. K-Electric Limited was third with a turnover of 28.457 million shares. It gained 05 paisas to finish at Rs9.30/share.

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