PSX Closes Flat After Volatile Session

The 100-Index of the Pakistan Stock Exchange (PSX) gained 5.30 points on Wednesday to close at 85,669.28 points.   Brokerage house Topline Securities noted that the session experienced significant volatility, peaking at 86,451 and dipping to 85,444, largely due to profit-taking and the index’s inability to sustain levels above 86,000. The market was primarily supported by local institutions’ buying activity, it added.  A total of 596,052,076 shares were traded during the day as compared to 506,565, 368 shares the previous trading day, whereas the price of shares stood at Rs. 31.341 billion against Rs. 33.049 billion on the last trading day.  As many as 448 companies transacted their shares in the stock market, 208 of them recorded gains and 172 sustained losses, whereas the share price of 68 companies remained unchanged.  The three top trading companies were K-Electric Limited with 55,799,760 shares at Rs. 3.98 per share, Hub Power Company with 39,666,232 shares at Rs. 113.42 per share and PTCL with 32,226,119 shares at Rs. 13.20 per share.  Lucky Core Industries Limited witnessed a maximum increase of Rs. 114.32 per share price, closing at Rs. 1,257.56, whereas the runner-up was Hallmark Company Limited with Rs. 102.50 rise in its per share price to Rs. 1,348.03.  Nestle Pakistan Limited witnessed a maximum decrease of Rs. 75.24 per share closing at Rs 6,790.00 followed by Hoechst Pakistan Limited with Rs. 54.13 decline to close at Rs. 2,335.87.