Benchmark KSE-100 index rises 296.77 points
Bulls staged a comeback at the Pakistan Stock Exchange on Monday, after a week of volatile trading, as the benchmark KSE-100 index registered a decent rally, starting the week on a positive note.
Bullish sentiment prevailed throughout the day that kept the KSE-100 index in the positive territory.
Trading activity received a major boost on news that Pakistan was seeking a $3 billion loan from China to stabilise its dwindling foreign currency reserves amid fresh appreciation of the rupee against the US dollar.
On the international front, a bull-run in the equities market further bolstered the confidence of market players at the Pakistan bourse.
Earlier, the trading session started on a positive note and the KSE-100 index continued its upward march with minor oscillations.
It touched an intra-day high of 45,463 points, but profit-taking later in the day, stemming from the rising Covid-19 cases in the country, wiped off some of the gains.
At close, the benchmark KSE-100 index recorded a rise of 296.77 points, or 0.66%, to settle at 45,374.68.
The market opened on a positive note and stayed in the green zone throughout the day.
Main board activity remained gloomy.On the flip side, activity continued to remain sideways as the market witnessed hefty volumes in third-tier stocks.
In the last trading hour, profit-taking was witnessed due to rising Covid-19 cases.
