Pakistan Stock Exchange (PSX) continued with its bullish trend and the benchmark KSE-100 Index gained 1,700 points (+3.83 percent) – the highest ever points in a single day – to close at 46,144.96 points as political instability finally comes to an end.
The market opened on a sharp positive note, gaining over 1,000 points at the opening, and remained positive throughout the session. The benchmark index surpassed two psychological barriers of 45,000 and 46,000 points during the session.
The last highest gain was witnessed on June 5, 2017, when the market surged by 1,566 points to close at the 50,121 mark. Overll, the KSE-100 Index gained 2,358 points in the last two sessions.
Besides political stability, the other factors that helped the indices make gains were the second recovery of rupee in two sessions against the dollar and falling crude oil prices globally. The dollar slipped from Rs184.68 in the interbank market to Rs182.93 during the day while the rupee recovered Rs5.25 (+2.79 percent) against the dollar during the last two sessions. Crude oil prices, on the other hand, dipped by over 4 percent during the day, coming down to below $100 a barrel.
The KSE-100 Index moved in a range of 1,770.96 points, showing an intraday high of 46,215.54 and a low of 44,444.58 points, which was the last day’s closing point. Among other indices, the KSE All Share Index gained 963.76 points (+3.17 percent) to close at 31,333.04 points, while KMI All Share Islamic Index gained 782.39 points (+3.37 percent) to close at 22,676.62 points.
A total of 383 companies traded shares in the stock exchange, out of them shares of 327 closed up, shares of 45 closed down while shares of 11 companies remained unchanged. Out of 96 traded companies in the KSE-100 Index, 89 closed up, 5 closed down and two remained unchanged.
The overall market volumes increased by 329.79 million to 557.67 million shares. Total volumes traded for the KSE-100 Index increased by 134.88 million to 228.86 million shares. The number of total trades increased by 51,120 to 134,345, the value traded increased by Rs6.58 billion to Rs13.36 billion .TLTP