KARACHI: The Pakistan Stock Exchange (PSX) failed to maintain upward trend as the appreciated levels for share prices called in some profit-taking near the end of the trading day. The market, however, recorded another all-time high trading volumes as investors remained active in trade from the first minute of the trading day today.
The Karachi Share Index (KSE-100) ended the day 21.56 points (0.05 percent) down at 46,790.75 points against the previous closing of 46,812.31 points.
The market went as high as 47,206.15 points during intra-day trading, while recorded as low as 46,686.97 points. Trading volumes reached 2.2billion shares today, a level seen for the first time in the history of the bourse. The last record was yesterday’s, 1.5billion shares.
The daily traded value inclined to Rs42.8bn from Rs28.33bn in the previous session, the data said.
Traders and analysts said that market maintained the upward momentum almost all day, but the intraday corrections was demanded a cautious policy at current levels above 47,000 points levels.
While as expected the investors preferred to book some profits to secure their positions for the approaching weekly holiday, they added. Investors were active due to activity in the corporate sector.
The share price of Colgate Palmolive increased by Rs36.99 to Rs2,850 while Gatron Ind. gained Rs33.52 to Rs480.56. On the other hand, Unilever Foods lost Rs983 today to close at Rs15,616 while Pak Tobacco lost Rs71.86 to close at Rs1,263.14.