PSX rally halted as KSE 100 index fails to cross 38,000 level

KARACHI: The Pakistan Stock Exchange (PSX) observed a volatile session on Wednesday which prevented the bourse from crossing the level of 38,000 points level.
The KSE 100 index witnessed a rise of just 104.30 points and closed at 37,804.61 points. The indices gained 264.54 points to reach its highest level to reach 37.986.37 points. However, the index failed to cross the 38,000 points level and slumped before trading was suspended. The total number of shares was 257.45 million valued at Rs14.235 billion.
The lower KSE 30 index nudged 39.46 points and closed at 16,407.70 points. The total volume of scripts was 142.56 million. The KMI 30 index gained 567.70 points and closed at 61,146.99 points, while the All-Share Index gained 56.73 points and closed at 26.902.11 points.
The top three active stocks were Hascol Petroleum (HASCOL 2.55%), Unity Foods (UNITY 3.48%) and Agritech Limited (ARG 13.20%). The firms traded 21.215 million, 20.098 million, and 19.276 million shares respectively.
The top contributor to the KSE 100 index was the cement sector (62.39 points) while the mutual funds sectors show the largest change in market capitalization (9.82%)  
The stock market is recovering and is back to the level where it was before crashing in early March with the benchmark index recovering more than 10,000 points in little over four months.
The KSE-100 was trading at around 38,000 points at noon on Wednesday which is the highest level in more than four months ever since the lockdown was imposed.
The stock market seems to have recovered and closed on a positive note since the past four weeks as the government has taken several measures to stimulate growth and boost investors’ confidence.
Comments: 0

Your email address will not be published. Required fields are marked with *