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KARACHI: Pakistan Stock Exchange (PSX) witnessed volatility on Wednesday but managed to remain above the 47,000 points level.
The benchmark KSE-100 reached its highest point of 47,317.27 points before it began to witness a gradual decline. The bourse reached its lowest points of 49,968.41 points. It eventually closed with a decline of 80.48 (-0.17%) at 47,968.41 points. The total volume of shares was 132.668 million valued at Rs7.827 bn.
The lower-bench KSE-30 index decreased by 68.81 points (-0.38%) and closed at 18,274.34 points. The total volume of shares was 74.057 million. The KMI-30 index also declined by 327.75 points (-0.43%) and closed at 76,144.72 points, while All-Share Index also slipped by 42.66 points (-0.13%) and closed at 32,053.55 points. The total volume of shares was 380.5 million.
The most active stock was Pakistan Telecommunication Company (PTC 10.17%) which saw 22.718 million shares traded at the stock market. This was followed by Hascol Petroleum (HASCOL 3.61%), WorldCall Telecom Ltd (WTL 10.96%) and TRG Pakistan Ltd (TRG 5.41%). The total volume of scripts was 17.309 million, 16.290 million, 16.113 million respectively.
A day earlier, the Pakistan Stock Exchange extended its bull-run as the benchmark KSE-100 index posted a gain of 138 points and closed above the 47,000-point barrier.
The prevailing optimism arising from appreciation of the rupee, Saudi Arabia’s financial assistance for Pakistan, and expectations for the resumption of International Monetary Fund (IMF) loan programme have kept investor spirits stronger for the ongoing week.
On the economic front, the ongoing wave of rupee appreciation continued on Wednesday and the US dollar declined by a fresh Rs0.74 to Rs169.8 in the inter-bank market during intra-day trading. The local currency has gained Rs5.47 since it hit a peak of Rs175.27 against the greenback on October 26, 2021.
