Bulls dominate PXS as benchmark index gains 436 points
Business
Bulls dominate PXS as benchmark index gains 436 points
KARACHI (Web Desk) - Bulls dominated the Pakistan Stock Exchange (PSX) in first session of trading on Thursday as the benchmark KSE-100 Index gained 436 points to reach 40,153 points around 11:20am.
Investors showed interest in index-heavy sectors including, automobile, cement, chemical, commercial banks, oil and gas exploration companies and OMCs trading in positive.
Market analysts say positive trading sentiments prevail at the stocks driven by reports suggesting that Saudi Arabia has assured the International Monetray Fund (IMF) that it will deposit $2 billion in Pakistan.
-- Stocks close on positive note on Wednesday --
The 100-index of the Pakistan Stock Exchange (PSX) witnessed a bullish trend on Wednesday, gaining 29.89 points, with a positive change of 0.08 per cent, closing at 39,717.15 against 39,687.26 points on the previous day.
A total of 86,723,163 shares were traded during the day as compared to 83,255,062 shares the previous day, whereas the price of shares stood at Rs 2.435 billion against Rs2.186 billion on the last trading day.
As many as 354 companies transacted their shares in the stock market; 175 of them recorded gains and 147 sustained losses, whereas the share price of 32 companies remained unchanged.
The three top-trading companies were Silk Bank Ltd. with 11,002,000 shares at Rs 1.03 per share, WorldCall Telecom with 5,743,963 shares at Rs1.17 per share, and Telecard Limited with 5,347,500 shares at Rs7.91 per share.
Khyber Textile witnessed a maximum increase of Rs37.02 per share price, closing at Rs530.72, whereas the runner-up was Premium Tex with a Rs33.51 rise in its per share price to Rs480.31.
Bata (Pak) witnessed a maximum decrease of Rs148.5 per share closing at Rs1,835, followed by Philip Morris Pak. with a Rs26.99 decline to close at Rs 344.02.
