Pakistan stocks witness slight correction

KARACHI: Pakistan Stocks Exchange (PSX) witnessed a slight correction on Wednesday as after crossing 49k mark, the benchmark index settled 0.25 percent down, dealers said.

The KSE-100 shares index shed 122.56 points or 0.25 percent to close at 48,704.99 points. KSE-30 shares index shed 73.26 points or 0.28 percent to end at 26,551.34 points. As many as 423 scrips were active of which 176 advanced, 227 declined and 20 remained unchanged.

The ready market volumes stood at 403.805 million as compared to 501.264 million shares a day earlier.

Companies posting highest gains include Ghandhara Industries, up Rs38.14 to close at Rs800.96/share and Atlas Battery, up Rs15.17 to close at Rs835.33/share.

Companies posting major losses include Rafhan Maize, down Rs340 to end at Rs8250/share and Pak Tobacco, down Rs61.55 to end at Rs1371.82/share.

Highest volumes were witnessed in Dost Steels Limited with a turnover of 32.934 million shares. The scrip shed 36 paisas to close at Rs12.93/share. Aisha Steel Mill was second with a turnover of 23.941 million shares. It gained 46 paisas to end at Rs17.04/share. Fauji Cement was third with a turnover of 15.38 million shares. It shed 61 paisas to finish at Rs47.58/share.

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