PSX nudges towards regaining 40,000 points level

KARACHI: The Pakistan Stock Exchange (PSX) on Wednesday slowly nudged to regain the 40,000 points level which it failed to retain a day earlier.
The KSE 100 index gained 305.16 points and ended at 39,882 points. The indices dropped by 136.66 points to reach 39,425.57 points before it rebounded. The bourse reached its highest level of 39,940.22 points before trading was suspended. The total volume of shares traded was 296.172 million valued at Rs17.516 billion.
The lower bench KSE 30 index increased by 140.18 points and closed at 17,297.71 points. The total volume of scripts was 186.114 million. The KMI 30 index gained 995.07 points and closed at 63,833.02 points, while the All-Share Index gained 157.70 points and closed at 27,813.51 points.
The top active stocks were Maple Leaf Cement Factory (MLCF 6.96%), Power Cement (POWER 11.45%) and TRG Pakistan (TRG 7.35%). The firms traded 38.479 million, 37.475 million, and 34.578 million shares, respectively.
The cement sector contributed 171.27 points the most to the KSE 100 index which it also witnessed the highest change 4.97 percent in market capitalization.
According to data released by the All Pakistan Cement Manufacturer Association (APCMA), the sales of cement has increased by 37.75 percent from 3.512 million tonnes in July 2019 to 4.838 million tonnes in July this year.
This mark a a 1.98 percent increase was seen in sales during 2019-20 supported by exports. The local uptake of cement in July 2020 increased by 32.67 percent to 3.953 million tons from 2.979 million tons in July 2019 while exports registered a more impressive increase of 66.14 percent, increasing to 0.885 million tons from 0.533 million tons in the same month last year.
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