PSX starts week on strong note as volumes soar

Staff reporter

Karachi

The Pakistan Stock Exchange (PSX) started the week on a strong note, with the benchmark KSE-100 index gained 588 points to close at 43,112.
The index reached a day’s high of 43,256 before settling by the end of the day, continuing last week’s momentum.
Of the 379 traded scrips, 276 advanced, 81 declined and 22 remained unchanged.
Volumes were on the higher side with 314 million shares worth Rs14.3 billion traded, with the technology and communication sector dominating with 50.6 million shares traded in the day.
“The index has recovered 13pc from the bottom levels of December 2017, right after a massive plunge in the local bourse post political and economic uncertainties,” a note from JS Research said, adding that the banking sector continued its previous week’s rally with UBL (+2.18pc), HBL (+3.34pc) and MCB (+1.09pc) being the biggest movers from the sector.
Volumes were led by:

WorldCall Telecom: 35.26m shares traded [+7.09pc]; Azgard Nine: 15.6m shares traded [+6.30pc]; Aisha Steel Mill: 12.9m shares traded [+4.97pc]; TRG Pak Ltd: 12.2m shares traded [+1.31pc] and Bank of Punjab: 11.7m shares traded [+0.11pc]

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