The Pakistan Stock Exchange (PSX) on Monday witnessed a massive surge as the KSE-100 gained 1,371 points or 3.4% amid fresh hopes that the new budget measures would finally pave way for revival of the International Monetary Fund (IMF) program.
The benchmark KSE-100 closed at 41,437.10, an increase of 1371.78 points or 3.42%.
Index-heavy industries like oil and gas, automakers, cement, chemicals, and commercial banks trading in the green all saw widespread purchasing.
According to experts, important developments that sparked hope for the IMF program’s resumption were the cause of the optimistic trend.
Also read: PKR remains stable, closes at 286.71 against dollar
Volume on the all-share index spiked to 226.8 million from 136.9 million on Friday, while the value of shares traded also jumped to Rs7 billion from Rs3.4 billion recorded in the previous session.
WorldCall Telecom was the volume leader with 26.2 million shares followed by Fauji Fertiliser Bin Qasim Plant with 13.1 million shares and Sui Northern Gas Company Limited with 12.5 million shares.
Shares of 327 companies were traded on Monday, of which 269 registered an increase, 43 recorded a fall and 15 remained unchanged.
