KARACHI: Pakistan Stock Exchange (PSX) continued the positive trajectory on Wednesday as bulls remained in control of the stock market as geopolitical tensions ease.
The benchmark KSE-100 index was on the upward trend as trading resumed and reached its highest of 44,281.27 points. However, it soon lost the 44,000 points level but managed to close on a positive note before trading was suspended. The bourse eventually closed at 43,975.69 points after gaining 255.87 points (0.59%). The total volume of share was 77.395 million valued at Rs3.939 billion .
Of the 95 traded companies in the KSE100 Index, 60 closed up 31 closed down, while 4 remained unchanged. Sectors propping up the index were Technology & Communication with 88 points, Cement with 76 points, Commercial Banks with 41 points, Food & Personal Care Products with 22 points and Textile Composite with 19 points.
The lower bench KSE-30 index increased by 96.18 points (0.57%) and closed at 17,018.56 points. The total volume of shares was 45.470 million. The KMI 30 index closed at 71,294.26 points after increasing by 662.00 points (0.94%), while the All Share Index gained 56.99 (0.19%) and closed at 29,996.69 points. The total volume of share traded were 236.453 million at the stock market.
The highest number of shares traded belonged to Flying Cement (FLYNGR1 -35.71%) which traded 22.346 million shares. This was followed by WorldCall Telecom Ltd (WTL -1.79%), Treet Corportation Ltd (TREET 0.97%) followed by TPL Properties Ltd (TPLP 3.78%). The number of scrips traded were 19.694 million, 15.227 million, and 13.968 million, respectively.
Global oil fell below $100 a barrel in a volatile session as it came under pressure from signs of progress in Russia-Ukraine peace talks and a closely-watched report that cut its forecast of world demand. On the domestic sides, the government is gearing for a no-confidence motion which kept investors on the sidelines for much of the preceding week.
