PSX plunges 948 points in bloodbath session
A total of 169,915,190 shares were traded as compared to the trade of 182,857,290 shares
KARACHI (Dunya News) – Pakistan Stock Exchange saw a virtual bloodbath on Thursday where the KSE-100 index went down by 948 points to close at 40,655.37 points as compared to 41768.66 points on previous day.
The Index started trading at 41,603.71 points and witnessed a bullish session throughout the day before taking a plunge at 2:00pm, just after the detailed verdict was issued.
A total of 169,915,190 shares were traded as compared to the trade of 182,857,290 shares during the previous day, whereas the value of shares traded during the day stood at Rs9.44 billion as compared to Rs10.3 billion during last trading day.
Total 361 companies transacted shares in the Stock Market on Thursday, out of which 34 recorded gain and 310 sustained losses whereas the share price of 17 companies remained unchanged.
The three top traded companies were, UNITY with a volume of 26,395,500 shares and price per share of Rs14.70, HASCOLR1 with a volume of 13,217,000 and price per share of Rs11.17, and FFL with a volume of 12,571,000 and price per share of Rs15.29.
On Wedneday, the PSX noted bearish trend as KSE 100 Index closed at 41768.66 points as compared to 41,768 points on previous day with negative change of 164.95 points,
On Tuesday, a total of 253,882,830 shares were traded compared to the trade 222,325,260 shares during the previous day, whereas the value of shares traded during the day stood at Rs14.5 billion as compared to Rs11.3 billion on Monday.
Moreover, 371 companies transacted shares in the stock market, out of which 121 recorded gains and 233 sustained losses whereas the share price of 17 companies remained unchanged.
On monthly basis, amid positive market triggers, the KSE-100 index has been maintaining the level beyond the 41,000-point mark, and yesterday, it moved to the highest level since Nov. 16, 2018. It closed at 41,644.88 yesterday after gaining 728.29 points.
The stock market has recovered by about 45 percent since its low of 28,765 points on Aug. 16, 2019.
Previously, Adviser to the Prime Minister on Finance Dr Abdul Hafeez Shaikh had 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 had 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.
