PSX surpasses 48,000-level for first time in four years

69

KARACHI – Bulls continued to rule the Pakistan Stock Exchange (PSX) as the KSE-100 index on Friday crossed 48,000 points mark after gaining 294.92 points, or 0.62 per cent.

This is for the first time in four years that the PSX crossed 48,000 level amid strong economic indicators as the GDP growth rate of Pakistan has been estimated at nearly 4%.

The market witnessed the bullish trend throughout the day and closed at 48,191.26 points. It saw intraday high of 48,237.61 points and a low of 47,896.34 points.

Oil and gas exploration firms contributed most to the today’s index with 61 points followed by banking and cement sectors with 57 and 47 points, respectively.

On Monday, the benchmark KSE-100 Index gained 770.05 points (+1.63 percent) to close the session at 47,896.34 points.

The KSE-100 Index remained positive throughout the session, touching an intra-day high of 47,979.6 points. Among other indices, the KSE All Share Index gained 534.94 points (+1.69 percent) to close at 32,238.69 points, while All Share Islamic Index gained 421.1 points (+1.84 percent) to close at 23,345.46 points.

A total of 397 companies traded shares in the stock exchange, out of them shares of 316 closed up, shares of 67 closed down while shares of 14 companies remained unchanged. The overall market volumes increased by 452.37 million to 1412.26 million shares.

The number of total trades increased by 77,450 to 260,543, and value traded increased by Rs9.30 billion to Rs32.05 billion. The market capitalisation increased by Rs136.39 billion. Among scrips, WTL led the table with 480 million shares, followed by BYCO (94.2 million) and SILK (71.5 million).

Stocks that contributed significantly to the volumes include WTL , BYCO, SILK, HUMNL and GGL, which formed 53 percent of total volumes.—TLTP

Read more: https://pakobserver.net/sbp-clarifies-ambiguities-over-gdp-growth-rate-numbers/

Previous articlePCB takes notice of unsanctioned cricket event being aired on betting site
Next articleChina’s Sinovac COVID-19 vaccine gets WHO approval