Business

Bulls conquer at PSX, KSE-100 index hits record 1,406 points yesterday

KSE-100 breaks the record of gaining the highest points in one day. On the second day of this week, Bulls conquered the charts at Pakistan Stock Exchange as KSE-100 gains 1,406 points.

Closing at 41,299 points this Tuesday, it made history as the biggest solo upswing in Pakistan Stock Exchange. Previous record of hitting the highest points was made on March 31 where standard index gained 1,306 points in one day.

Progress in political aspect in Islamabad had a positive influence on the investors. As for today, the lockdown of capital city turned into a thanksgiving gathering of Pakistan Tehreek-e-Insaaf as the government decided to respond and wait for Supreme Court’s verdict in the Panama leaks issue regarding Sharif family.

In a recent deal, equity traders and investors decided to sign an agreement with a Chinese company to take over K-Electric. This may likewise prepare towards the conceivable exchange of 40 percent stakes bargain by Shanghai Stock Exchange for the PSX later on.

Investors were also attracted by the result of different banks and blue chips entity to buy more stocks in Pakistan Stock Exchange.

In the meantime, foreign investors were also attracted as S&P of Pakistan upgraded their rating. It pushed KSE-100 index to a never ending higher level.

Contributions in Pakistan Stock Exchange

With 69 million shares, banking sector witnessed the highest volume in trading yesterday in KSE-100 index. Overall 62 million and 51 million shares were traded by power generation and distribution sector and technology and communication sectors respectively.

More than 41 million shares of K-Electric were traded making it the big picture of the day. 28 million shares were traded by Bank of Punjab followed by 22 million shares by 1st Dawood Bank.

As per the details, the trading volume of PSX rose to 207 million with the estimation of 122 million while the market capitalization expanded to Rs 7.23 trillion.

From the 412 sharing companies, 13 remained unchanged, 356 got green and 43 stayed red.

Along with KSE-100 index, KSE-30 index stood at 22,646 points after gaining 793 points. KMI closed the stock exchange with 69,439 points after gaining 2,795 points.

Click to comment

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

To Top