KARACHI: The Pakistan Stock Exchange (PSX) witnessed positive momentum on Wednesday as it regained the 44,000 points level lost earlier this week amid the ongoing political and economic situation in the country.
The benchmark KSE 100-index surged in early trading and eventually reached its highest point of 44,377.92 points. The bourse slipped in later day trading but still closed on a positive note. The bourse gained 183.02 points, with a positive change of 0.42 percent, closing at 44,111.10 points. The total volume of share was 47 million.
The lower bench KSE-30 index also gained 88.01 points (0.53%) and closed at 16,281.27 points. The total volume of shares was 33.238 million. The KMI 30 index increased by 546.15 points (0.77%) and closed at 71,277.55 points, while the All Share Index nudged by 5.91 points (0.02%) and closed at 30,147.81 points. The total volume of share traded were 108.365 million at the stock market.
The highest number of shares traded belonged to Treet Corporation Ltd (TREET 2.96%) which traded 13.434 million shares. This was followed by Telecard Ltd (TELE 2.39%), Engro Polymer & Chemicals Ltd (3.46%) and K-Electric Ltd (0.00%). The number of scrips traded were 11.966 million, 5.562 million, and 5.265 million, respectively.
The political turmoil, rising economic challenges including a decline in foreign exchange reserves and delay in the IMF programme have impacted the stock. The market has plunged by 1250 points on the opening day of the week but has since regained control
On the economic side, the Pakistani rupee (PKR) has depreciated and traded at PKR 186.13 per USD, witnessing a slash of 90 paisa in the interbank market.
