PSX falls flat after early buying frenzy
The Pakistan Stock Exchange (PSX) landed flat on Friday, with the benchmark KSE-100 index managing to close positive at 46,639 with a net gain of 77 points over the preceding day.
The index had gained over 550 points within the first few minutes of trading to touch a day's high of 47,144 points, but shed points throughout the day until the session's close.
Both volumes and traded value picked up from Thursday, with over 248 million shares worth Rs14.6 billion traded. Of the 365 active symbols, 171 advanced, 167 declined while 27 closed unchanged.
The chemical sector dominated trading with 38m shares traded, while cement and commercial banking followed with 32.1m and 25.9m shares traded.
Volumes were led by:
Engro Polymer and Chemicals Ltd: 16.3m shares traded [+2.06pc];
Sui Northern Gas Pipe Line Ltd: 12.9m shares traded [+2.93pc];
TRG Pakistan Ltd: 10.7m shares traded [+1.60pc];
Fauji Cement Co Ltd: 10.7m shares traded [+1.63pc];
Pakistan Elektron Ltd: 10.5m shares traded [+0.23pc].