Bears return to PSX amid rising Covid cases

Bears return to PSX amid rising Covid cases


Business Desk

KARACHI: The bears staged a comeback at the Pakistan Stock Exchange (PSX) on Thursday as the benchmark KSE-100 index sheds 153 points, or 0.33 per cent, to close at 45,763 points.
As many as 363 scrips were active, of which 135 advanced, 196 declined and 22 remained unchanged. The ready market volumes stood at 327.6 million shares, compared with the turnover of 514.38 million shares in the last trading session. The value of shares traded during the day was Rs 6.48 billion.
A report from Arif Habib noted that the market remained volatile today as the country reported the highest ever COVID-19 infections in the last four months. “The market opened on a bleak note as investors remained risk-averse,” it said. In the refinery sector, Cynergyico PK Limited remained in the limelight as its board approved the acquisition of a 57.37% stake in Puma Energy under which it will become the second-largest retail fuel network in Pakistan. The report added that in the last trading hour, profit-taking was witnessed across the board. Cynergyico PK Limited was the volume leader with 74.07 million shares traded, gaining Rs 0.43 to close at Rs 7.31. It was followed by WorldCall Telecom Limited with 47.8 million shares traded, remaining unchanged at Rs 2.53, and Hascol Petroleum with 23.39 million shares traded, gaining Rs 0.20 to close at Rs 7.11. Unilever Foods witnessed a maximum increase of Rs175 per share, closing at Rs 20, 324 whereas Nestle Pakistan witnessed maximum decrease of Rs 110.06 closing at Rs 5400.