KARACHI: The Pakistan Stock Exchange (PSX) surged on Monday as the political instability in the country finally subsided and investor sentiment were at its peak.
The benchmark KSE 100-index surged by 874.07 points immediately as trading resumed on the first day of the week. The bourse witnessed an upward trajectory throughout the day. It eventually closed after gaining 1700.38 points (3.83%) percent, closing at 46,144.96 points. The total volume of share also increased to 228.857 million valued at Rs10.6 billion.
The lower bench KSE-30 index also surged by 689.74 points (4.05%) and closed at 17,703.87 points. The total volume of shares was 125.653 million. The KMI 30 index increased by 3,156.20 points (4.40%) and closed at 74,874.01 points, while the All Share Index gained 963.76 points (3.17%) and closed at 31,333.04 points. The total volume of share traded were 557.475 million at the stock market.
The highest number of shares traded belonged to WorldCall Ltd (23.12%) which traded 140.797 million shares. This was followed by Cnergyico PK Ltd (15.38%), Fauji Cement (FCCL 4.44%) and Hum Network Ltd (9.13%). The number of scrips traded were 40.149 million, 18.176 million, and 17.801 million, respectively.
On the economic side, the US dollar fell to Rs183 as the political turmoil in the country subsided. The rupee had ended the week at 184.68 to the dollar, after recovering from 188.18.
The stock market reacted positively to the election of the new prime minister. Investors have also pinned hoped whether the government will approach the IMF to continue the financial assistance programme.
