Optimism returns in PSX as bulls toss PSX above 111k points
Business
The benchmark KSE-100 index hovers at 111,351 points after gaining more than 900 points
KARACHI (Dunya News) – The 100-Index of the Pakistan Stock Exchange (PSX) turned around to bullish trend on Friday, gaining 927.86 points, a positive change of 0.84 percent, closing at 111,351.18 points as compared to 110,423.32 points on the last trading day.
A total of 815,920,043 shares were traded during the day as compared to 628,026,201 shares the previous trading day, whereas the price of shares stood at Rs 32.917 billion against Rs. 33.582 billion on the last trading day.
As many as 443 companies transacted their shares in the stock market, 223 of them recorded gains and 176 sustained losses, whereas the share price of 44 companies remained unchanged.
It must be noticed that the PSX witnessed persisted selling on Dec 26 (Thursday), with the benchmark KSE-100 Index hovering at 111,432.59 after losing 1,000 points during the opening hours of trading in the market.
Bears took hold of key sectors including cement, commercial banks, fertilizer and refinery.
In addition, index-heavy stocks including NRL, HUBCO, MARI, POL, ENGRO, HBL, FABL and SILK also traded in the red.
Earlier on Wednesday (Dec 25), the stock market remained closed on account of a public holiday observed to celebrate birth anniversary of country’s founder Quaid-i-Azam Muhammad Ali Jinnah.
Besides, the PSX witnessed a highly volatile session on Tuesday (Dec 24) as stocks moved in both directions, closing at 112,414.81 points in deep red after losing 1,509.61 points due to increased selling pressure.
