Stocks upward mobility continues as KSE-100 index crosses 115k barrier
Business
The PSX remained under severe pressure during the last week
KARACHI (Dunya News) – The Pakistan Stock Exchange (PSX) on Tuesday continued upward mobility as it gained more than 1000 points in the opening hours of the s trade, hovering at 115,036 points against previous close of 113,924 points.
On Dec 23, as time passed by, the trade gained momentum and KSE-100 index surpassed 114,000 mark after gaining 4,500 points. It was a day full of economic gains and the stocks eventually closed at 113,924 points courtesy 4,411 points.
The PSX remained under severe pressure during the last week ending on Dec 20 due to increased selling mainly by mutual funds and year-end profit taking by institutions.
Overall trading activities also remained low as average daily volumes on ready counter decreased by 15.5 percent to 1,151.57 million shares during this week compared to previous week’s average of 1,362.86 million shares while average daily traded value on the ready counter declined by 5.7 percent to Rs 57.16 billion during last week.
Meanwhile, the BRIndex100 decreased by 375.87 points during last week to close at 11,726.51 points with average daily turnover of 994.642 million shares.
On the other hand, the foreign investors also remained on the selling side and withdrew $11.583 million from the local equity market as total market capitalization declined by Rs629 billion during last week to hover at Rs13.958 trillion.
