PSX continues upward trajectory, gains 370.58 points
The Index remained positive throughout the session touching an intraday high of 40,813.53.
KARACHI (Dunya News) – Pakistan Stock Exchange (PSX) on Thursday continued its upward trend as the KSE-100 index closed today at 40,641.10 points as compared to 40,306.55 points on the last working day with a positive change of 370.58 points.
The Index remained positive throughout the session touching an intraday high of 40,813.53.
Of the 94 traded companies in the KSE100 Index, 59 closed up 33 closed down, while 2 remained unchanged. Total volume traded for the index was 327.24 million shares.
Sectors propping up the index were Commercial Banks with 105 points, Oil & Gas Exploration Companies with 80 points, Oil & Gas Marketing Companies with 55 points, Cement with 54 points and Fertilizer with 29 points.
All Share Volume increased by 114.75 Million to 507.90 Million Shares. Market Cap increased by Rs.90.60 Billion.
Total companies traded were 404 compared to 401 from the previous session. Of the scrips traded 226 closed up, 159 closed down while 19 remained unchanged.
On Sunday, Adviser to the Prime Minister on Finance Dr Abdul Hafeez Shaikh said the recent strong performance of Pakistan’s stock market was proof of “increasing investor confidence on stabilisation measures” employed by the Pakistan Tehreek-e-Insaf (PTI)-led government.
In a tweet, the premier’s aide stated that the 14.9 per cent gain of the KSE-100 Index in November was the highest one-month return over the past six years.
“The KSE-100 index is up by 14.9% in November 2019, highest one month return after May 2013. Since 16 August 2019, the index increased by 36.6% (10,500 points),” said Mr Shaikh.
His comments came after the Pakistan Stock Exchange had a phenomenal rally in the outgoing week despite political uncertainty that jolted investors briefly.
According to updates till Friday, the benchmark KSE-100 index managed to sustain its winning streak for the fifth successive week as it advanced 1,362 points or 3.59 per cent and crossed the 39,000 mark after eight months. It closed the week at 39,288 points.
“In November 2019, the KSE-100 index increased 5,084 points or 14.9pc month-on-month – this is the highest monthly return after May 2013,” said AHL Research in its report.
