KARACHI: Pakistan Stock Exchange (PSX) on Monday started the week on a positive note as it gained over 200 points in intra-day trading as bulls regained control of the stock market.
The benchmark KSE-100 index surged in early trading but nosedived soon after. The bourse regained control and remaine steady to close on a positive note before trading was suspended. The bourse eventually closed at 43,230.22 points after gaining 200.25 points (0.47%). The total volume of shares were 48.062 million valued at Rs3.135 billion.
Of the 93 traded companies in the KSE-100 Index, 50 closed up 38 closed down, while 5 remained unchanged. Sectors propping up the index were Fertilizer with 59 points, Cement with 38 points, Oil & Gas Exploration Companies with 24 points, Commercial Banks with 21 points, and Investment Banks/Securities with 17 points.
The lower bench KSE-30 index also gained 60.14 points (0.37%) and closed at 16.494.20 points. The total volume of shares was 37.189 million. The KMI 30 index increased by 314.66 points (0.46%) and closed at 60,454.38 points, while the All Share Index gained 170.34 points (0.58%) and closed at 29,648.74 points. The total volume of share traded were 124.855 million at the stock market.
The highest number of shares traded belonged to Summit Bank (SMBL 22.57%) which traded 16.070 million shares. This was followed by Hum Network Ltd (HUMNL 3.82%), WorldCall Telecom Ltd (WTL -2.00%), and Treet Corporation Ltd (TREET -0.48%) The number of scrips traded were 8.923 million, 7.970 million, and 7.247 million, respectively.
The stock market reacted positively due to the news pertaining to the resolution of Reko Diq dispute and shrinking current account deficit. The political uncertainty and Pakistani rupee’s continuous slide have raised concerns among investors. The Pakistani rupee (PKR) has slipped further by 68 paisa against the greenback in interbank session as the currency closed trade at PKR 181.25.
