KARACHI: The upward trajectory continued at the stock market for the second consecutive day on Wednesday as the investor confidence remain high leading to value buying investments.
Yesterday, the Pakistan Stock Exchange soared by 1208.24 points (4.31%) and settled at 29,231.63 points as investors cheered the economic relief package approved by the government. The Economic Coordination Committee (ECC) has approved Rs1200 billion economic relief package to protect the economy and equity markets from adverse effects of the coronavirus crisis.
This bolstered investor sentiment and encouraged them to make fresh investments coupled with a recovery in regional and global stocks. There was also optimism that the impact of the pandemic was not as expected leading to modest rallies at the stock market.
The bullish trend continued at the stock market as the benchmark KSE 100 index witnessed an increase of 273.94 points and closed at 29,505.57 points. The total volume of shares at the stock market was 157.081 million valued at Rs6.16 billion.
Meanwhile, the lower bench KSE 30 index also observed a gain of 60.08 points (0.47%) and closed at 12,921.30 points. The total volume stock was 89.511 points. The top advancers which saw a rise in share prices were MLCF (1.69%), Hascol (1.82%) and PIOC (1.88%).
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