PSX fails to retain 39,000 level, KSE 100 index gains 209 points

KARACHI: The Pakistan Stock Exchange (PSX) continued its upwards trajectory on Wednesday as the KSE 100 index gained 209 points in intra-day trading.

The KSE 100 index has crossed the 39,000 points and its highest points at 39,124.33 points but failed to maintain control and declined in the closing hours of trading.

The indices surged by 209.36 points as trading resumed and remain on an upward trajectory throughout the day before declining before closure. The total volume of shares traded at the bourse was 368.724 million valued at Rs17.216 billion.

The lower bench KSE 30 index surged by 75.99 points and closed at 16,879.70 points. The total volume of scripts was 185.614 million. The KMI 30 index gained 693.36 points and closed at 62.326.73 points, while the All-Share Index nudged 83.11 points and closed at 27,336.53 points.

The market leader was K-Electric (KEL 9.69%) which traded a colossal 73.290 million shares. This was followed by Pak Elektron Ltd (PAEL 3.38%), TRG Pakistan (TRG 1.29%) and Maple Leaf Cement factory (MLCF 3.45%). The firms traded 35.319 million, 30.782 million, and 20.517 million shares, respectively.

The sector contributing the most to KSE 100 index were the cement (62.43 points) which the power generation and distribution sector saw the largest change in market capitalization (4.13%). The total volume of shares increased to 507.83 points.