KSE-100 maintains upward trajectory, gains 1,044 points
Business
PSX crosses psychological barrier of 40,000 points in early trading session
KARACHI (Dunya News) - Bulls dominated the Pakistan Stock Exchange (PSX) on Thursday as the benchmark KSE-100 index gained more than 1,000 points and crossed the psychological barrier of 40,000 points.
The index gained 1044.77 points to reach at 40,829.67 level, or 2.63 per cent at 12pm. As many 366 companies were trading.
The positive development regarding the IMF bailout package and the arrival of UAE president Sheikh Mohammed bin Zayed in Pakistan created positive sentiments in the market. The news about refinary policy was also taken on positive note.
Market experts say the Pakistan rupee s steep fall has triggered a positive sentiment in the market and that the driving factor behind the market is the rupee s market-based exchange rate.
On Wdnesday, the 100-index continued with bullish trend, gaining 729.25 points, a positive change of 1.87 percent, closing at 39,784.90 against 39,055.65 points the previous day.
A total of 269,493,715 shares were traded during the day as compared to 179,760,927 shares the previous day, whereas the price of shares stood at Rs10.574 billion against Rs6.368 billion on the last trading day.
As many as 339 companies transacted their shares in the stock market; 225 of them recorded gains and 92 sustained losses, whereas the share price of 22 companies remained unchanged.
The three top-trading companies were WorldCall Telecom with 20,618,001 shares at Rs 1.19 per share, TPL Properties with 14,463,924 shares at Rs15.99 per share, and Pak Petroleum with 13,282,160 shares at Rs80.17 per share.
Rafhan Maize witnessed a maximum increase of Rs485.91 per share price, closing at Rs8,381.75, whereas the runner-up was Sapphire Tex with a Rs476.35 rise in its per share price to Rs1,094.35.
Philip Morris Pak witnessed a maximum decrease of Rs42.72 per share closing at Rs527.03, followed by Ismail Ind with Rs.37.50 declines to close at Rs462.50.
