Summary Shares of 148 enterprises has risen while those of 138 went down
ISLAMABAD (Dunya News) – Pakistan Stock Exchange (PSX) has successfully crossed 31,000 points benchmark by the week’s end, Dunya News reported Saturday.
At least 349 points were added in trading in the week. At the week’s end, shares of 309 companies were done business with on the whole.
Out of the total, shares of 148 enterprises saw a rise, 138 went down while 23 companies sustained their shares’ value.
PSX 100-index closed at 31,298 points with an increase of 104 points.
According to stock analysts, Pakistan Stock Exchange has seen stability after better performance of Asian markets and oil prices in international market.
After the Pakistan Stock Exchange was launched on January 11, the following first week was tough on business as 1,533 points were squeezed out of the market.
The week had started with 32,534 points while it ended with 31,001 points.
It should be mentioned here that Muttahida Qaumi Movement (MQM) denounced the merger of stock exchanges in Karachi, Islamabad and Lahore to form one giant.
MQM’s Dr Farooq Sattar had criticised shifting stock exchange to the federal capital. He had said that Karachi stock exchange was the real deal while those in Islamabad and Lahore were mere chapters of it.
While speaking in the National Assembly (NA) minister Riaz Pirzada had also criticised the government for moving headquarters of trading business from Karachi.
However, trading experts welcomed the condensation of three bourses and said that investors would have wide range of opportunities as the national giant has more to offer that three separate entities.
