PSX turns bearish, loses over 696 points

ISLAMABAD, Jun 05 (APP): The benchmark KSE-100 Index of the Pakistan Stock Exchange (PSX) turned bearish on Friday, losing 696.57 points, a negative change of 0.41 percent, closing at 170,478.94 points against 171,175.51 points on the last trading day.

During the session, the ready market recorded a trading volume of 727.166 million shares with a traded value of Rs 26.753 billion, compared to 697.166 million shares valuing Rs 26.135 billion in the previous session. The market capitalization declined to Rs 18.928 trillion from Rs 18.983 trillion a day earlier.

Out of 491 active companies in the ready market, 248 advanced, 205 declined and 38 remained unchanged.

TPL Properties topped the volume chart with 42.058 million shares, followed by TPL Corp Ltd with 41.999 million shares and Pace (Pak) Ltd. with 41.812 million shares.

The top gainers included Khairpur Sugar Mills Limited, which increased by Rs 47.21 to close at Rs 2,420.84, and Hoechst Pakistan Limited, which gained Rs 43.50 to settle at Rs 4,052.50.

On the losing side, Rafhan Maize Products Company Limited declined by Rs 71.41 to close at Rs 9,624.46, while Khyber Textile Mills Limited fell by Rs 29.17 to close at Rs 1,527.83.

In the futures market, turnover stood at 116.460 million shares with a traded value of Rs 5.511 billion, compared to 107.498 million shares worth Rs 5.000 billion in the previous session.

Out of 310 futures-market companies, 118 recorded gains while 188 declined and four remained unchanged, according to PSX data.