PSX again closes positive after gaining 503 points
Out of 400 companies, share prices of 247 companies recorded increase
KARACHI (Dunya News) – The Pakistan Stock Exchange (PSX) witnessed an upward trend on Thursday with the benchmark KSE-100 index gaining 503 points and closing at 34027.70 points, Dunya News reported.
A total of 261,561,220 shares were traded compared to the trade of 237,676,960 shares during the previous day, whereas the value of shares traded during the day stood at Rs8.4 billion compared to Rs6.4 billion during the previous day.
Out of 400 companies, share prices of 247 companies recorded increase, 132 companies registered decrease whereas 21 companies remained stable in today s trading.
The three top traded companies were Lotte Chemical with a volume of 26,796,500 shares and price per share of Rs16. 01, Pak international bulk with a volume of 17,269,000 and price per share of Rs09.51 and K electric Ltd with a volume of 16,513,500 and price per share of Rs4.18.
The top advancer was Unilever Foods with the increase of Rs277.55 per share, closing at Rs5828.55 while Pak TobaccoXD was runner up with the increase of Rs113 per share, closing at Rs2420.
The top decliners were Bhanero Textile with decrease of Rs28.50 per share, closing at Rs912.50 and Bata Pak with the decrease of Rs18.01 per share closing at Rs1599.99.
According to analysts, financial firms have invested in stocks due to lower prices of shares of different companies registered with the PSX.
According to stock market analysts, despite recent simmering Pak-India tensions and the current uncertain political situation in the country, investors have shown interest in the stock market due to a likely fall in interest rates.
Earlier, economists were of the view that since the passage of the financial budget for the fiscal year 2019-20, the stringent policies would reflect themselves in what they termed “the downfall of the stock market.”
