Pakistan News

PSX breaks bearish streak as KSE-100 index gains 91 points

PSX breaks bearish streak as KSE-100 index gains 91 points

With the KSE-100 index gaining 91 points or 0.22 per cent by the day's close, the Pakistan Stock Exchange (PSX) landed in the green on Wednesday after losing over 1,500 points in the first two days of the week.

Despite losing 178 points within the first 10 minutes of trading to touch a low of 41,046 points, the index bounced back to float between the 41,200 and 41,500 mark throughout the day before eventually closing at 41,324.

Close to 132 million stocks valued at around Rs7.09 billion were traded on the market on Wednesday. A total of 330 symbols were traded in the day, of which 177 advanced, 138 declined and 15 remained unchanged.

"Upbeat financial results, surging textile exports, reports of rising cement dispatches and speculations ahead of likely revision in local petroleum prices played a catalyst role in bullish close," Ahsan Mehanti of Arif Habib Corporation said in a note

Technology and communication sector dominated the day's trading with 22.5m shares traded, while textile and banking followed with 21.4m and 15.6m shares traded respectively.

TRG Pak Ltd: 20.1m shares traded [-1.74pc]

Azgard Nine: 18.9m shares traded [-3.96pc]

B.O.Punjab: 8.7m shares traded [+5.03pc]

Sui South Gas: 7.7m shares traded [-3.41pc]

Aisha Steel Mill: 6.7m shares traded [-3.05pc]

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